Not much needs to be said about this story. First, Do Kwon will be extradited to the U.S..
And then there’s this prison photo of SBF’s BFFs in prison:
Dear. God. Those. Liquid. Ations.
When bulls get liquidated, bears get excited. When bears get liquidated, bulls get excited. 😁
I have no idea what happens when everyone gets liquidated. From Glassnode’s Liquidation Heatmap, here’s this insane look.
Seriously, SHIB People, Are You Ok?
Look at the 1-minute chart below from yesterday’s intraday price action on $SHIB. 🤯
It was one of the craziest swings of all the major market cap memecoins by far, just an insane move. And how did the Stocktwits SHIB stream react? Like you’d expect any high class degen to react: Unf*cking fazed.
One Way To Use Stocktwits’ Social Data Tools
Have you ever heard the phrase ‘volume precedes price’? It’s an old-school technical analysis 101 maxim. For example, if an instrument is in a downtrend but then you start to see volume tick up, the theory is that price will follow the volume. 🧑🎓
It’s what technical analysts call a leading indicator—a heads-up or a warning that the probability of change is high and that it might happen soon. Analysts and traders might apply that principle (volume precedes price) to the Stocktwits Social Data.
Technically Speaking – March 5, 2024
Well, like I said, this isn’t a fun Litepaper. Instead of finding wen-Moon or wen-Lambo, we will be looking for wen-bottom. 💔
I’ll keep it short and sweet, quickly identifying where analysts and traders see strong support levels ahead.