Avenger Call – 14 May 24

00:05: Quick look through some price action
07.03: This weeks Crypto news
11:07: Recent US producer price index coming in higher than expected and implications for tomorrow’s consumer price index data.
12:48: Tomorrow the US CPI inflation data will be released.
14:11: A top-bottom pattern on Bitcoin’s daily chart and analysis of support/resistance levels like the 50 day moving average.
15:00: Further analysis of Bitcoin being squeezed between the 50 day moving average and a trendline, with the battleground between $60,000 and $63,000 levels.
18:32: Importance of looking at the bigger picture, including shifting to the weekly Bitcoin chart on a linear scale.
21:21: The ‘enemy’ is the fiat system and Bitcoin will be an important store of value going forward due to its finite supply model.
27:51: Bitcoin ownership will provide wealth even through market downturns and cycles.
23:36: US debt clock showing growing national debt and implications for taxpayers. Discussion of debt increasing by $1 trillion every 100 days.
26:12: Review of US money supply M2 chart showing large increases during COVID and implications for future monetary policy decisions.
30:21: Downturns are normal market behavior and exit strategies should not change based on price alone.
32:04: Overview of the GameStop short squeeze event in early 2021 led by Keith Gill and WallStreetBets on Reddit, and impact on retail investors and brokerages like Robinhood.
42:04: Meme coin rallies may not last as some figures already declining again.
46:34: Suggestion to hold Argo mining stock to see where price goes in potential next bull run given it has bled out significantly already.
47:01: Most mining stocks have dropped significantly since last bull run. Suggestion to check company earnings if available and look at hash rate and mining equipment trends.
48:52: Technical analysis of Glimmer chart showing potential double top formation and EMAs fanning out against price. Potential support levels discussed.
51:41: Technical analysis of Rose chart also showing potential double top formation and struggling with EMAs. Potential support level at 0.0618 fib retracement discussed.
53:19: Discussion of Entangled chart showing typical launch pump and dump pattern. Vesting periods to be checked to determine when pre-sale holders can begin selling.
55:41: Discussion of Bitcoin chart still being in a downtrend for 9 weeks. Fear and Greed index currently between 50-60.
01:00:12: Analysed past market movements from May and discussed possibility of consolidation period with ranging between 60k-72k for BTC.
01:06:05: Analysed charts for DOT and discussed levels to watch for potential re-entry between 2.9k-2.5k with downside target of 2.15k in a bear case.
01:11:03: Briefly analysed chart for NEAR and noted its relative strength compared to broader market weakness.
01:13:08: Shared current portfolio breakdown with largest holdings in NEAR, USDC, and DOT.
01:16:32: Upcoming CUDL this Saturday and availability on Friday night for additional meetups.