CRYPTO

$IBIT $ETHU $MSTR $COIN $BTC $ETH

Hello traders,

Incredible 5 days behind us. SPX up over 4.5% and we closed the day right near the high. Weekly candle? Monster. Monthly candle? Let’s not get into the hanging-man talk like everyone on X, but besides that, another concerning thing is that short-term this still looks like a lower high, and until we get above 6,871 it’s good to remember this.

Five straight green days with zero red days is starting to smell a little overbought though. So yes — a small pullback wouldn’t shock anyone. Stay sharp, respect both scenarios. Above 6,871 this thesis is invalid and we’re in a confirmed uptrend.

Supply/ Resistance (where sellers are waiting).
6,871 / 6,954

Demand/ Support (where buyers are waiting):
6,796 / 6,704

Chart below.

We also added to one name today we talked about yesterday. A strong breakout happened, we broke above gamma wall and a supply level, so we entered the position. Let’s take a look at the trade and then dive deeper into crypto. We analyzed option flow and charts on IBIT, ETHU, MSTR and COIN as well as charts and supply/demand levels on $BTC and $ETH.