The crypto market is showing short-term bearishness, creating potential dip-buying opportunities across major assets. For Bitcoin (BTC), watch for a potential bounce and buying opportunity in the key support zone of $109,200 - $109,100. If Ethereum (ETH) breaks its current support, the next significant level to consider for an entry is around $3,820. Look for a potential buying opportunity in Solana (SOL) between $186 - $187. A successful bounce from this SOL support zone could lead to a rally towards a $198 price target.

Bitcoin (BTC)

• The market saw a rejection at the $112,400 level after pumping into the recent CPI data release.
• On a short-term (1-hour/2-hour) basis, the sentiment is cautious to bearish due to a "bearish divergence" pattern, which can signal a potential price drop.
• Key Support Levels to Watch:
  • $109,200 - $109,100: This is the first major support zone. A strong bounce is expected here if the price drops. This area is considered a typical "bull zone" for short-term trades.
  • $108,500: This is a more conservative and critical support level. Losing this level could lead to a "messy weekend in the markets." This area has multiple technical supports, including the 200-day moving average.
• Key Resistance Levels to Watch:
  • If BTC starts to pump, the $113,000 - $114,000 region is identified as a potentially strong area to consider shorting.

Takeaways

• Bitcoin is currently in a short-term downtrend after a recent rejection. Traders should be cautious with new long positions.
• For those looking to buy the dip, the $109,200 area is the first level to watch for a potential bounce. A more significant support zone lies around $108,500.
• If Bitcoin rallies, the $113,000 area could act as a strong ceiling, presenting a potential opportunity for short-sellers.

Ethereum (ETH)

• ETH's price action is very similar to Bitcoin's, also seeing a rejection from a key resistance level.
• The short-term chart indicators are looking bearish, suggesting potential for more downside before a bounce.
• A long-term bullish case was mentioned where ETH could potentially make a new all-time high (around $6,000 - $6,500) even if Bitcoin only makes a lower high. This is speculative but highlights potential long-term strength.
• Key Support Level to Watch:
  • The current price is in a "must hold" zone. If this area fails, the next significant support level is around $3,820.

Takeaways

• ETH is facing short-term weakness. If you are looking to buy, watch the $3,820 level for a potential bounce if the current support breaks.
• Despite short-term bearishness, there is long-term optimism for ETH's performance relative to Bitcoin.

Solana (SOL)

• The short-term chart for SOL is also looking bearish, with the price falling.
• However, a bullish reversal signal on the oscillator is expected within the next few hours, which could set up a bounce.
• Key Support Level to Watch:
  • The "dream zone" for a bullish bounce is between $186 - $187. This area has multiple technical supports.
• Potential Target:
  • If a bounce occurs from the support zone, a potential target for the move up is $198.

Takeaways

• SOL may see more downside in the immediate short term.
• Look for a potential buying opportunity in the $186 - $187 zone. A successful bounce from this area could lead to a rally towards $198.

"Shitcoin Casino" & High-Risk Plays

The following are presented as highly speculative, high-risk trades. The speakers repeatedly emphasized using small position sizes and low leverage due to extreme volatility.

Pippin (PIPPIN)

• Strategy: Shorting (betting on the price going down).
• Context: This token has been pumping hard, and the strategy is to catch a reversal.
• **Entry Zones