MAGA Miners: Trump + Bitcoin Miners = 🚀

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Welcome to Bull Market Bytes!

The bullish cryptocurrency newsletter where we watch in anticipation to see which cryptocurrency will be the third approved ETF… 👀

Could it be Dogecoin, Litecoin, or Solana?

What about Trump coin? 😂

Well, I suppose only time will tell…

Today’s Bullish Topics

🥳 Fun Fact in Crypto

📰 MAGA + Bitcoin Miners

📊 Bitcoin’s Bullish Analytics

📌 Bull Market Bulletin

📚 Falling Wedge Formation

Fun Fact in Crypto 🥳

It seems like every other day there is some type of “crypto crime” or “hack” that is happening…

However, the question I have is…how much has been lost over the years? 🤔

Fortunate for us, there is a comprehensive report that has been released by Crystal Intelligence, a blockchain analytics firm…

And it looks like they have the answer we are seeking! 👀

According to their study that covers from June 19, 2011, to March 6, 2024, there has been 785 crypto hacks and scams…

Now, for the total dollar amount from these 785 crypto hacks and scams…the final number is…

Drumroll, please! 🥁

$19 billion lost over a 13-year span!

To put that in perspective…

That is an average of $1,461,538,461.54 per year.

View the full analytical breakdown here!

MAGA + Bitcoin Miners 📰

The United States is about 5 months away from their presidential election.

Why do we take such interest in this election? 🤷‍♂️

Because one of the president candidates is very pro-Bitcoin and it is definitely no secret…

Who is the presidential candidate?

No other than Donald J. Trump!

This week, Trump met with Bitcoin miners at his Mar-a-Lago estate in Florida and showed his great support.

He has made it quite clear that he has no interest in the Central Bank Digital Currency.

Which I wouldn’t believe that anyone does… 😂

And wants Bitcoin to be the “top dog”!

We are still fascinated that Bitcoin is now being advocated for by the potential leader of the “free world”.

So, our next question: would Trump winning fuel the largest Bitcoin bull run that we have ever seen? 🤔

Bitcoin’s Bullish Analytics 📊

Well…trust me… it has been just as difficult for us to watch Bitcoin go down in price these last few days… 😞

I’d rather step on a Lego while going to the restroom at 3 in the morning…

Yes…that painful… 🤣

However, we must keep a positive attitude and keep moving forward in life. 😎

So…why the prelude before the analytics…well, it is because we are getting close to the “Moment of Truth“.

I’m sure a lot of people are going to be excited for the “Moment of Truth“to go away, and I promise it will after the 17th of June. 😂

Now, what I will say is interesting about these analytics are that our Support line has now turned into a Resistance line.

Definitely not the best thing in the world, but Bitcoin is moving at a healthy pace and outside factors are affecting the price.

You have to love those outside factors of inflation and interest rates. 🤦‍♂️

So, let’s go ahead and dive into Bitcoin’s analytics and what may occur in the very near future. 🤿

With the image above, we now see that we are getting closer to the “Moment of Truth“.

For those not aware of this line, it was generated about a month ago and projected a decision period… 🔮

…Further upward movement or further downward movement…

So…what exactly is the blue arrow showing? 🤔

This is showing how the Support line has now turned into a Resistance line.

Now, why does this primarily occur? 🤷‍♂️

Well…it is because…

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…today’s sponsor! ⭐

Special thank you to Vinovest for partnering with us for today’s newsletter! 🙏

So, Support switching to Resistance can occur as buy and sell orders are stacking in specific areas.

For example: if $10 is a Support and then it turns into a Resistance, it is because the value didn’t hold.

ALSO…whole numbers are textbook areas that are mental notes when trading…

Another example: if someone is buying a stock, they may stay “I will buy in at $5 or $10…

Rarely will someone say, “I am going to buy in at $7.24”. 😂

Trading is 100% mental…you must know what the other side (buyers or sellers) are thinking and play that to your advantage…

🧠 Don’t forget! Understanding psychology in trading is imperative! If you can predict moves from both buyers and sellers…you could be unstoppable!

Bull Market Bulletin 📌

NATURAL 20: This is your opportunity to increase your productivity and profits with AI! Click here to join this daily AI newsletter with a side of business insight.

Crypto “re-staking” …Next Big Thing for Returns? From a Seattle-based start-up that raised $100 million to now holding $18.8 billion in crypto…people are chasing the returns with this new method.

Ethereum ETF Should be Fully Approved Soon! The Chair of the Securities and Exchange Commission told senators that the Ethereum ETF should be fully approved much sooner than expected.

Solana ETF on the Map…but Projections are Longer than Expected. Solana has seen its ups and downs…and blockchain downtimes…Is it reasonable for Solana to be considered with the uncertainty?

United States Judge Approves Terraform’s SEC Settlement. Everyone remember Do Kwon? If not, he was over Terraform Labs, which ended up in a $40 billion crypto crash…well…his settlement amount is in the billions too. 👀

Falling Wedge Formation 📚

Welcome back to the exciting word of trading formations and how they do the complete opposite of what you expect…

Whoops…I mean… 😅

How to determine a trading formation and how to trade accordingly…

Yeah, that one… 😂

So…as you may have gathered from the title…today we are covering the falling wedge formation!

Even though it sounds like it would be bearish…due to it having the word “falling” in the formation’s name… 🤣

✨ This is actually a bullish formation.

Let’s take a look at the image below. 👇

What is interesting with this formation is that even as it is going down in price, it is holding a support line…

ALSO…you can see the squeeze happening with the two red lines getting closer together.

So, lets break down the formation a little bit more, beginning with the “stop”. 😎

The “stop” (or stop loss) is the area of price where if it goes below someone would exit their position.

Pretty much the alarms go off that this was not a good idea. 😆

Next, the entry…this is where someone would enter the trade as they see a reversal to the downward pressure.

Finally…the target…AKA, time to cash in! 💰

Once the formation shows a reversal and it starts to go up, there is the area where someone would exit the trade in profit.

Let’s take a look below at the video that shows the trading formation in real time! 👀

This formation can be tricky to foresee as it has both bullish and bearish movement.

It is very important to look for a reversal to occur and for the formation to show you it is now ready to be bullish.

With any trading formation…Do not go against the pressure! 🚩

I repeat…DO NOT!

Why is this? 🤔

Because if you enter into a trade and it is still moving down further, your losses are going to stack very quick!

And depending on your trading size, that could be thousands in seconds! 🤯

🧠 Remember! DO NOT go against the pressure. You are not the “lone warrior” …Follow the trend and be on the winning side!

Lesson Review Question

📚 Make sure to review the lesson above before answering!

Question: What type of formation is the falling wedge?

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