Christmas Holiday Annoucement

What a year!

GM Explorer,

This was intended to be a simple “we're closing for the year” email, but we thought, why not share some final thoughts on the market instead.

It has been an incredible year for us, and we want to thank you for being a part of this journey.

Looking ahead to next year, we’re considering transforming this newsletter into a more in-depth insights on how to effectively navigate the crypto market. We are still working out the details, but it’s likely that there will be a small fee associated with it.

We will share more information next year.

With that said, let's jump right in.

Widespread Panic

Last week, a single comment sent the entire cryptocurrency and stock market into a nosedive, causing widespread panic among investors.

Many are now questioning whether this is the end of the bull market.

Well, it's not.

On Thursday, we laid out some straightforward facts to back this.

If you haven't read it, we recommend you do. (In fact, stop reading this and go read that first.)

Here’s the link:

In that piece, we said Bitcoin needs to maintain support at the yellow line ($101,201) and the white line ($99,956). If it fails to do so, we could see another decline, which would put significant pressure on the red support area and cause Bitcoin's price to drop below it.

BTCUSDT Weekly Chart

Unfortunately, Bitcoin failed to hold the support levels we mentioned. It fell and broke the red support area.

Bitcoin was able to find new support at the 50-day moving average. Here’s what’s great about that.

The 50-day moving average was right at the green band, a support area that the bulls have vigorously defended in the past.

  • It provided support during the crash on November 26th

  • It was also held as support on December 5th.

The 50-day moving average is currently at $93,547. As I write this, Bitcoin has fallen to that price today, and the 50-day MA has prevented it from dropping any further.

We believe the 50-day moving average will continue to support Bitcoin and eventually serve as a springboard to propel it back above $100,000.

However, if it fails to do so, the green band will become a crucial area of support.

What To Do With This Info

We understand that many of you hold altcoins, some of which may make up most of your investments.

While Bitcoin might consolidate between the red and green band for a few more days, altcoins could experience significant declines.

We’re going to give you the same advice we gave on Thursday.

Pay attention to altcoins that are holding their ground in this market. Look for those that aren’t falling as hard, and they rebound almost as hard (if not more) than Bitcoin.

On Thursday, I mentioned SUI as an example of such a coin.

Personally, we sold off the coins in our portfolio that weren't showing strength and bought SUI with the funds.

This strategy allowed us to recover all our losses (plus some profit) during the crash because SUI rallied to nearly its previous price before the drop.

Currently, SUI has dropped again due to Bitcoin's decline, but we’re confident that it will rally back along with Bitcoin once it resumes its climb toward $100,000.

We wrote a piece about how to determine strong altcoins a few weeks ago. If you'd like more information, here's the link.

That's all we've got for you today.

Merry Christmas and Happy New Year in advance! We'll be resuming the newsletter on January 6th, 2024.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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