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The Wolf Of All Streets Profile picture
@scottmelker
Nov 4 • 6 tweets • 2 min read • Read on X
This weekly candle is important for technical analysts.

A LOT of coins are potentially losing their 50 MA on the weekly. All that matters is price when the candle closes.

That usually means a trip to the 200MA.

I can show you a few...
$BTC

200 MA around $55,000 Image
$SOL

Weekly 200 MA around $101 Image
$XRP

Weekly 200 MA around $1.03 Image
$ETH

Interestingly, $ETH has not even come particularly close to breaking the 50 MA yet.

200 MA around $2,440 if it ends up losing the 50 MA. Image
Again, the weekly candle does not close for another 5 days. Lots of time to make these look a lot better.

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More from @scottmelker

The Wolf Of All Streets Profile picture
Jul 3
Wall Street still doesn’t know what to do with crypto stocks.

You’ve got OGs like $COIN, $HOOD, and $MSTR...

And now a wave of new players: $CRCL, $GME's pivot, and companies stacking Bitcoin, Ethereum, even Solana.

The suits are confused. And it shows.
🧵
Legacy analysts are still trying to wrap their heads around it.

Three years ago, their ratings were brutal - no nuance, no forgiveness, just blanket pessimism.

Anyone who listened to them missed out on monster gains.

History doesn’t repeat, but it often rhymes.
The truth?

Many of these companies are just vehicles.

They’re broad bets on crypto as an asset class. Some track Bitcoin. Some build the infrastructure. A few are experimenting with treasuries or tokenization.

But one thing’s clear: they’re not going away.
Read 8 tweets
The Wolf Of All Streets Profile picture
Mar 19, 2023
The bear market is officially over. $BTC made it's first higher high ($25,212) since the all time high . That confirms a new bullish trend. Price can still go down, but that would be a new trend, not a continuation of the previous bear market. Congrats everyone.
For reference, from 2019.

For those who are immediately responding that price will still go back to the lows... it could.

But there are rules. And the rule is that when price confirms a macro higher high, the current bear trend is dead.

That's technical analysis, my friends.
Read 4 tweets
The Wolf Of All Streets Profile picture
Mar 3, 2023
The WSJ just released an article moments ago, stating that Tether and Bitfinex banked with fake documents and shell companies, and that executives discussed way to evade bank scrutiny.

The article is behind a paywall, so I asked chatGPT to summarize.

wsj.com/articles/crypt…
A report by The Wall Street Journal has revealed that crypto companies behind Tether used falsified documents and shell companies to obtain bank accounts.
The report claims that Tether's parent company, iFinex, and its banking partner, Deltec Bank & Trust, misled investors about Tether's dollar reserves.
Read 12 tweets
The Wolf Of All Streets Profile picture
Mar 1, 2023
"For An Angel" by Paul van Dyk just randomly played in my car.

I will never forget the first time I heard this song.

It changed my life.

It was 1999, and I was in my senior year at the University of Pennsylvania. I was already a rap DJ.

My friends and I went to New York City to hear PVD play at Twilo. At around 6 AM, there was a massive rush to the dance floor, and I heard someone next to me scream "for an angel, for an angel!"

I had somehow never heard the song.
I may or may not have been in an altered state, but I can say that hearing this song, at that time of the night, at that point in my life, was the perfect moment.

I was so moved that, in my classic style, I manipulated my way into the DJ booth (I was just a kid) to tell PVD.
Read 6 tweets
The Wolf Of All Streets Profile picture
Feb 8, 2023
I crashed a meeting with 3AC in Dubai.

My first question to Kyle was, "what did you say to the guys at Voyager to get them to give you $700M with no collateral."

My assumption was that they provided something fake to the creditors to compel them to give a loan. I said as much.
This is what Kyle said...

His claim is that Voyager reached out to them directly and said they had $700M that they NEEDED to loan out.

Voyager was on a hunt for yield and were in a crunch to loan out their entire book to be able to continue offering yields to customers.
Kyle further claimed that Voyager effectively handed over the money with almost 0 due diligence, no request for any collateral. Basically, 3AC simply showed their AUM and that was enough to get $700M with no collateral.
Read 4 tweets
The Wolf Of All Streets Profile picture
Dec 17, 2022
Interest Rate Swaps are the largest market in the world.

And most people have seemingly never heard of them. 🧵
Interest rate swaps are financial instruments that allow two parties to exchange a stream of payments based on a specified interest rate. They are commonly used to hedge against changes in interest rates, manage interest rate risk, or to obtain a more favorable interest rate.
Interest rate swaps are the largest market in the world, with an estimated notional value of over $500 trillion. This means that they are used by a wide range of market participants, including banks, corporations, governments, and investors.
Read 8 tweets

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