Bull market dip. Is it over?

Hi everyone, welcome to a Monday at Rapid Fire. Let’s crack straight in. Just want to give a special thanks to Christopher, rather, in our free chat. He was just saying how he is a member of the newsletter and he thinks it’s of tremendous value. So thank you so much for that little plug, that little recommendation there about the guidance that he’s receiving about Solana and Ethereum, because they are absolutely moving.

I have, since we’ve been putting the newsletter and really plugging them, Really early on to try and identify these trends early. And I bring this up to not only is it a fantastic testimonial, but Tristan, a little while ago in his fa piece, which happens every second week of the newsletter release every second week of the month, Tristan will do his fundamental piece.

And the last one  was not the last one, but the one before, he did a special on airdrops and he spoke very highly about the Egen layer. So Ethereum, egen, lagger, li Egen layer, and Etha fire. And if you had. Followed the instructions there to get some, you know, airdrops just by doing not much following some different guidelines there  You would now be eligible for that first airdrop and it wasn’t confirmed But Tristan had a fairly good e to the ground that it would be so if you’ve been doing that You staked ethereum and started earning points You are now eligible for that first airdrop.

I believe six percent of the overall tokens are eligible for airdrops now So that is essentially, you know free money  In this space, and you can make a lot of gains to by following some of these, these rules and getting a lot of these token unlocks early and airdrops, it’s a fantastic thing if you are eligible for it.

So get into it. And yeah, the newsletter has some, you know, some really interesting points to it as we roll through those different weeks. So please pay attention to it. If you’re not a subscriber, make sure to look into it. Now, let’s crack into Bitcoin. Just quickly here, because I got this squiggle one, I wanted to leave it because if you’ve seen enough of these market structures built.

You generally can build a framework like this, you know, over time, over multiple cycles. So we’re in a bull market and once we do see a pretty reasonable substantial correction, you tend to see the psychology flip on Facebook and Twitter where it’s in instead of you were going to the moon, you know, all time high bull market, all that hundred K.

You tend to say, have we topped? I should have taken more profits, all that. And that’s generally the gutter of despair where it is there. In my view though, in bull markets as well, the psychology, you have to start training your mind that once it goes into those levels, most people go, all right, this might be a bigger dip than I thought when they start to change their orders and then say to themselves, we’re going to buy a little bit lower and they cancel orders.

And then the market bounces pretty hard because it’s a bull market. Dips are bought. So, so far so good. That was a really nice pulse up. But until we clear that 73,000 or convincingly closed beneath 65,000 we’re still kind of range bound in this region. I would not be surprised to see us go back down to 62 60 to, to fill it out.

But if that is the extent an ETFs kick in tomorrow.  You know, that could be the low and then we’re going to 80, 100, 000. So there’s every reason to think Bitcoin can and will run to 80 or 100K relatively soon. Right now, though, it is Solana season. It has taken crypto space by storm. Just when you forget about it. 

You really run hard now. We were really big on it, especially in the mastermind group. At about one 50 our call was to buy, so that has paid off really well. I know personally I got in at one 50 and where we are now. So it is just a fantastic move over 200. If you’re looking at the bigger play though, I think the prior all time high is like a magnet about two 50, you know, two 40, that kind of region.

And once we get it exactly like this squiggle, I think we’re gonna run into it. probably punch a little bit above it and then we’re going to consolidate around it and probably come back into this region here, you know, lower two hundreds at some point just to feel it out. Then we’re off to New York, sometimes I think in Solana.

It’s captured the narrative right now and that’s really, really important. The retail mania of meeting points built on top of it. Ethereum is kind of losing its luster a little bit in the respect that the murmurings coming out of the ETF are a little bit more negative being approved in May. So it’s an easy flip.

You can see the capital move from Ethereum pumping as soon as those memories came out. And then the momentum shifts as well. If you’re following trends you can gain that leverage to play on the asset itself in the ecosystem, Jupiter, Ray, those kinds of different coins on Solana. Absolutely pumping because Solana’s pumping like we saw Layer 2’s pumping when Ethereum was moving.

So different things you can have a look at there. Things we cover in the newsletter as well and I’ll be releasing a macro and TA edition this coming Thursday. Hope you all enjoy it guys. Have a wonderful day. See you later. Bye.