Crypto Market Wants You On Blood Pressure Medication Before The Weekend

This is such a typical memecoin story (and they pop up quite a bit during bull runs), and this one involved Dogwifhat ($WIF). 🐶

Some dood turned $1,750 into $11.2 million. He bought 5.1 million WIF in November and then spent who knows how many sleepless nights this month figuring out how to cash out on his lottery ticket. 

If that wasn’t enough to make you angry with envy, someone else turned $310 into $4 million. Still waiting for this to happen to me. 🚀

Will Bitcoin ever match the gold in investors’ portfolios? 🏅

JP Morgan ($JPM) thinks that for Bitcoin to rub shoulders and match the allocation of gold in investor portfolios, its market cap would need to skyrocket to $3.3 trillion.

That’s a price tag that would see Bitcoin’s value more than double. But don’t hold your breath; JP Morgan analysts believe cryptos volatility is 3.7 times more volatile than gold—which keeps it from reaching such lofty heights. They suggest a more grounded future where Bitcoin’s market cap could shrink to $0.9 trillion, pegging its price at $45,000. 🤬

I’ll keep the details short and simple here because time is running out, and if I’m not done on time for pizza night with the kids, my wife will be very mad. 🍕

I almost wrote she’d kill me, but if I did that, there’d probably be a SWAT team and an army of social workers making sure I’m ok.

MINA

Oh man, $MINA is playing some sneaky sneaky bear trappy games here. At least, that’s what it looks like. It’s already fallen below the bottom trendline of the triangle, but bulls keep pushing up against it. 

Analysts and traders on the bullish side are looking for a daily close at or above $1.50, which would put MINA above the triangle and above the prior swing’s close. And with the RSI in neutral conditions, any breakout might have a lot of room to run.

Oh boy, oh boy, the image below is hawt. Using Stocktwits Social Data is such a powerful tool – check out One Way To Use Stocktwits’ Social Data Tools as an example of how analysts and traders use the Stocktwits Social Data in their analysis and trading. 🔥

That MINA is pressing up against some near-term resistance, with a flat RSI, and the Sentiment and Message Volume are flat to bearish… Barring any broader weekend crypto shenanigans (which are incredibly probable), bulls be frothin at the mouth. 

Chainlink

This guy’s been stuck against that $20 value area since the middle of February. Bulls cracked above the resistance level at $20.83, bears slid it back down, and price action keeps ping-ponging against that resistance level. 💣

Similar to MINA above, $LINK‘s RSI is in almost neutral conditions. Given how close the daily candles are to that resistance level, it looks like bulls want to give a move higher another go. 

And here’s an interesting little piece of on-chain analytics from Stocktwits user lhollemoney1; he wrote:

Finally, I just want to reshare this analysis from last Friday because, yes, everything looks uber-bullish. Still, you’d be silly not to be cautious with crypto going into a weekend, which is when most price action shenanigans occur. ⛔