market update
everything mentioned in the last update still relevant.
the setup looks eerily similar to the one in jan/feb earlier this year.
waiting for the markets to breakout on htf. breaking above 65k will signal momentum picking up pace.
invalidation would be breaking down 56K.
one positive for the bulls is DXY has been showing weakness.
Currently only very few things are showing any signs of life.
Memes being one of them.
theRoaringKitty (guy who led the GME short squeeze) comeback yesterday
made headlines and memestocks were up massively in the last 2 days.
the interesting thing is web3quant indicator turned bullish last week.
for AMC it turned bullish last month.
the point here is, while an individual could have been a catalyst trend already had favored meme stocks much before.
dont think the run is over yet.
memes continue to be the chosen sector of this cycle.
from crypto memes standpoint
WIF POPCAT MICHI USA continues to remain high conviction bets.
from a momentum perspective, PEPE looks the strongest of the pack.
see you in the next one.
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