The Wolf Den #471 - Will Apple Accept Bitcoin?
Bitcoin Thoughts And Analysis
Nothing has changed on the Bitcoin chart. We recently broke through a key level of resistance and have flipped it to support - it's no surprise that price is consolidating in this area after such a strong move, reseting indicators and cooling off.
The. Bitcoin Conference starts tomorrow, with everyone in the space traveling today. Many are waiting to hear big announcements, while others will simply be away from their desks. This could be a strange week for price action.
WEEKLY CHART
Same, same. Key levels remain the same, price action remains the same. As you can see, we are at least getting strong demand on every dip for now, as evidenced by the long wicks to the downside. Buyers are definitely interested here. Otherwise...
DAILY CHART
We have been watching this idea play out for weeks, so I am not going to change my thought process now. Resistance flipped to support, consolidation...?
Altcoin Charts
I do NOT share signals in this section. I share setups and charts that I am watching, in an effort to help show you how I view a chart and what criteria would be necessary for me to consider taking a trade. NEVER blindly buy something because it is listed in a newsletter or posted on twitter. You need to have a plan when you enter a trade. These are just ideas, and are almost always “if, then” scenarios. If a certain set of things happen, then I would consider a trade.
ATLAS/USD
ATLAS is consolidating in a bull flag below strong descending resistance. More times than not, this leads to expansion through resistance on increasing volume.
You do NOT buy this here if you are looking for a trade. You wait until a clear break of both the small flag and the blue descending line on increasing volume.
Areas of likely support and resistance are marked as lines and zones, and can be used as targets and entries, as always.
ATLAS is one of the most ambitious play to earn gaming and metaverse projects in existence, and one that I invested in from the beginning and have never sold. I have ridden it all of the way down, because I believe in the long term potential. This is likely a multi year hold for me, and I am not trading it.
The trailer from last year definitely got me going.
Elon Musk Buys 9% Of Twitter
After criticizing Twitter for failing to adhere to free speech principles, Elon Musk has taken a 9.2% passive stake in the company. Musk’s ownership, which cost roughly $3B, doesn't give him a meaningful role in the company... for now. Considering Elon takes everything to an extreme, it’s hard to see him stopping here. He has even hinted at starting his own social media platform in the past. Either way, Twitter stockholders should be happy - the stock jumped 27% on the news.
But Doge barely moved.
Poor puppy.
Gary Gensler Wants More Control
In the tradition of Nate Dogg and Warren G, Gary Gensler and the SEC are gonna regulate.
In a speech given yesterday on the future of crypto, SEC chairman Gary Gensler made it clear that he wants all things crypto to be under his control. Of course. Because he's kind of an asshole.
He came after exchanges, coins, stablecoins, exchange security and transactions.
The SEC is in over its head, refusing to do the hard work to differentiate the myriad projects and innovation in the crypto space. When in doubt, deem everything a security and crush innovation - it's the American way!
Ripple and BlockFi are currently in the crosshairs, which means that any of our favorite exchanges and tokens could be next.
Whatever.
As long as we keep doing our part to push back when bad regulation is presented, crypto will continue to grow and thrive.
US Legislators Attempt Bitcoin Bill, Can't Even Fix US
Just a thought...
Maybe American politicians should spend their time fixing problems in their own country and not on writing legislation about things that have literally nothing to do with the United States.
"U.S. Representative for California’s 35th District, Congresswoman Norma J. Torres, announced on April 4 that she, alongside Congressman Rick Crawford introduced the Accountability for Cryptocurrency in El Salvador (ACES) Act to mitigate the risks to the United States of El Salvador’s adoption of Bitcoin as legal tender."
What does this have to do with the United States? I will tell you - absolutely nothing.
Chasing clout at the expense of Bitcoin. It will certainly backfire.
The Wolf Of All Streets Podcast Ft. Micah Johnson
How do you stand out in the metaverse? Micah Johnson (@Micah_Johnson3) - creator of Aku - is the perfect person to answer that question. His animated video NFT was released in 2021 and has done over 24MM in sales volume. Since then, Micah has seen worldwide recognition: being named one of the “Top 50 Most Influential People in NFTs” by Fortune and named one of the Most Innovative Companies of 2022 by Fast Company. He joins us today to talk about the increasing pressure of a growing community, the importance of having a grand vision, what’s next for Aku, and the non-stop grind of leaning in to really big dreams.
In this episode with Micah Johnson, we discussed:
About our guest Micah Johnson
From 2020 to now: the rapid rise of NFT’s
The process of building Aku
What’s next for Aku
Commercial Rights
The pressure of a growing community
A grand artistic vision
Creating a web2 film using web3 momentum
WTF is an Akutar?
The importance of optionality in the Metaverse
Building IP
Micah’s grand vision for Aku
How you can get an Akutar
The non-stop grind
Scott’s ~almost~ hole-in-one
Follow Micah and Aku
This episode is sponsored by: VAULD and ARCULUS
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.