Thread by @dkcrypto13

So to be clear I think “all of the #crypto markets” are overheated short term as regards euphoria of holders and levered players. Usually that has produced a set back.

At the same time, I see $ETH, $BTC and $SOL all in very strong chart setups AND usage is absolutely up.

Furthermore, I am being approached by reasonably sized institutions to get them up to speed on the asset class, so there is a strong backdrop.

Therefore I am cautious with leverage for this as I do expect a move up, but may see small airpockets down in between.Or even a wash out

In terms of progression, usually the “heart of the action” leads each move. That would be $SOL at the moment and we have clearly seen that. To a lesser degree it would be $ETH which has followed through as well. $BTC is the last of the “quality” coins that should follow.

The last phase of any move on financial markets often sees the absolute worst trash pump. I think that has not happened yet. So I will be on the lookout for everything that has zero use, is a full blown scam and run by potential criminals. That’s the stuff that may pump yet.

If you’ve followed me for a while you know all the names I mean by that description. They start with X, E, T, D, F and are often connected to Barry, Brad and Brendan.

Probably will accumulate a bit here with stop about 10-12% lower and buy on confirmation.

When and IF it happens it’s probably a 1-2 week trade.

For all our sakes let’s hope it does NOT happen 😉.

Not advice.

Looks like $BTC may finally be making it's move here, so I will be very interested in what the cr4p does later today and tomorrow...