📰 Is It Time For Takeoff?
💎 Win An ETH!
💥 BRCFi is Going Strong
🚀 Profit Taking Strategies
💭 Will This Time Be Different?
Good Morning Degens,
I have two pieces of good news for you today.
Firstly, Bitcoin is currently above $73k (at time of writing at least!). We have been calling for the bull market to continue and it seems we were right!
Secondly, we are running a sweepstakes for all of you! We appreciate you being here and reading each day and want to give something back!
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
📰 Question of the Day
Is It Time For Takeoff?
Bitcoin is breaking out! Over $73k as I write this! There is a lot of liquidity at $76.7k on Bitcoin - about $1.62 billion worth! And if we start getting a short squeeze, the move could take us up to that level quickly.
Here’s the thing. We went up in the last few weeks, people took profit, and the price went down again. But now the sell pressure has eased. Things are looking good overall. The consolidation we just had can be seen as a continuation of the bullishness we already felt.
Macro-wise, Gold and Silver are doing great, and Bitcoin is now playing catch up. The truth is people are hungry for Bitcoin, and the EU is leading the way!
The below chart is interesting…
It shows the Wyckoff accumulation pattern on Bitcoin. This is a concept from Technical Analysis (TA) that is used to identify when an asset's price is nearing its bottom and starting to change its trend, heading to the upside again. In the final phase of a Wyckoff accumulation pattern price breaks out of its trading range to the upside, but is ideally backed by increased volume too. According to the chart, the price target of the current Bitcoin Wyckoff structure is way above the $120k mark.
Combine that with Jelle’s chart showing how Bitcoin is currently trading in a bullish megaphone pattern with a price target of $180k and you start to feel the FOMO!
A volatile move could be imminent.
Zooming out, some believe that the Bitcoin spot ETFs created an accelerated market cycle that will last way less than usual. However, if we go by previous cycles, according to Rekt Capital, we are over a third of the way through the bull market right now. Translation:
Time is running out to get positioned adequately.
But, it’s not all over, as the most gains are made in the last part of the cycle.
My Thoughts
I’m a simple man. These are support and resistance levels I have placed as horizontals on the Bitcoin chart, and this below is the weekly chart.
Two weeks ago Bitcoin surpassed its previous All-Time High (ATH).
We just closed this week having retested the breakout of that ATH.
Technical analysis would tell you that now Bitcoin will likely pump higher.
💎 Degens’ Den
Win An ETH!
Ok Degens, I promised you that this was coming today. Well, here it is!
Yep, we are running a sweepstakes where one lucky winner will win one whole ETH.
It will be running from today until the end of June. We are holding it through Gleam to make it really simple and straightforward for all. Long story short, there are various tasks you need to perform to gain entries. The more entries you have, the higher your chances of winning! Some tasks earn you more entries than others, so keep an eye out for those.
Here’s a simple guide, as well as some additional info you may want to read - don’t say I didn’t tell you!
Sweepstakes Guide:
Firstly, head over to the sweepstakes’ landing page on Gleam here, or by clicking the big ass image above.
You will have the option to log into Gleam with your preferred method as seen below (Email, Twitter, Facebook, etc.)
Once logged in, you will see the tasks you need to complete to earn entries into the sweepstakes.
The Tasks
These first two are mandatory:
Subscribe to Good Morning Crypto on Substack (you probably already are)
Refer A Friend to Good Morning Crypto (please read the rules below for this one)
Once you complete these two tasks, you will unlock additional optional ways to gain extra entries.
Earning Extra Entries
Create a Yield App Account
Yield App is our new partner, and their products are just amazing. You can read about Yield App further down. As you see, creating a Yield App account will earn you 10 extra entries to the sweepstakes, upping your chances to win (please read rules below).
Check out the Yield App Angel Launchpad
Other than being a great way to manage and store your crypto while earning passive yield on it, Yield App also has a launchpad. It will soon launch its first project. I met the team and their attention to quality is unprecedented. They don’t just pick anything, they do extensive due diligence and perform a 135-point check on any project they list. I can’t wait to see which projects actually launch on the pad. Check it out and earn an additional 2 points!
Enter Today’s Secret Code
I will post a secret code in each day’s issue of Good Morning Crypto. Today’s code is: HGGW7BQ2
You simply enter this code into the field each day and earn an additional entry (yes you can do this each day, so don’t forget to open the newsletter every day)! By the way, I posted two codes last week in the Thursday and Friday issues of Good Morning Crypto. Go check them out (note that the field to enter the code resets hourly, and you can only use each code once).
Subscribe to The Daily Candle on Substack
Did you know that each day Kyle, Sheldon, and their respective teams post charts and trades in their very own newsletter? You can subscribe to The Daily Candle and earn an additional 2 points. Also, there may be some extra secret codes hidden in there, so you might want to open it up daily to check!
Rules and T&Cs
Reading the Terms and Conditions is crucial, but I’ll outline some very specific things here, just to avoid confusion:
The winner and their referral must be subscribed to the Good Morning Crypto newsletter. If you win, we’ll check if your referral is indeed subscribed. If not, you will be disqualified and we’ll choose a new winner.
The winner must have an Ethereum ERC-20 address so we can send over the ETH.
IMPORTANT: If the winner gained extra entries by creating accounts with Yield App, Aevo, or Blofin, we’ll need to double check that the accounts have indeed been created once the winner is selected. Lack of an account on these platforms, after opting for the additional entries, leads to disqualification and a new winner will be selected (so don’t click on the platform tasks if you aren’t willing to create an account. If you do, it may cause you to be disqualified).
That’s it!
Now go spread the word! And good luck!
Oh, and keep an eye out for additional ways to enter coming soon!
💥 Best Alpha Posts of the Day
BRCFi is Going Strong
Bitcoin is the original Layer-1 (L1). And developers have found ways to build on it. The opinions on whether this will actually work in the long run are divided. I personally think that Bitcoin will become too overcrowded if this takes off, and the network will become too slow and inefficient. Sure we have the lighting network that could help out as a Layer-2 (L2), but still, maybe a dedicated smart contract L1 like Solana or Fantom is the way forward.
The three below focuses on Bitcoin:
Layer2
BRCfi
Memecoins
Infrastructure
DOGE Day = Meme Day!
Doge day is coming up, and it could be a great day for the memecoins.
Below is the thesis, and if the recent ludicrous behavior of the market is anything to go by, it could be absolutely spot on.
Not Financial Advice. Do Your Own Research.
I Am Super Bullish on Yield App! Here's Why! 👇
At last a company that is doing it right!
I had a long conversation with the team last week and I'm blown away by what they are building. On the surface, Yield App looks like a centralized wealth management app, but in fact, it goes so much deeper than that…
What stood out to me is the level of due diligence and risk management they perform for each project that they offer in their app, as well as the way they offer yield (up to 25% APY) on deposited assets. The yield is real yield, not internally generated and not created via lending. The team actively manages their portfolio to generate it, and they continuously adjust their rates to reflect the best returns for their users.
But here’s where it gets really interesting for us…
They have a project launchpad called “Angel Launchpad”, and they just announced their first project launching on it: ME3
Here’s the thing, when a company that respects integrity and security and has a proven track record of responsible investing choices helps launch a project, you can rest assured that it will be of top quality.
Launchpads are a great way to get into projects early, and I can’t wait to see what Yield App has up its sleeves next. You can get set up now and explore everything Yield App has to offer by clicking below! I definitely will be. 👇
P.S. Don’t forget that signing up to Yield App grants you an additional 10 entries in our sweepstakes! 😉
🚀 Trade of the Day
Crypto can be fruitful, but we need to know how to take profits. This thread analyzes four different ways of taking profits, ranging from Conservative to Aggressive.
It’s well worth a read.
🐸 MEMEoirs of a Degen!
McDonald’s chart is dumping and starting to match the company logo…
📢 Biggest Announcements
Market Expectations Adjust to Only Two Rate Cuts in 2024
BNB to Introduce Restaking
Avalanche (AVAX) Sees Surge in Stablecoin Liquidity
💭 Banter’s Take
It’s a new week, and the Bitcoin halving is getting closer. Meanwhile, Bitcoin is pumping and so are many alts.
You always hear people saying “this time is different”, but it never really is. History likes to rhyme (if not repeat). It’s all due to human psychology and emotions.
The Bitcoin halving is usually bullish for both it and the alts.
This time will likely not be different.
Let’s go!
See you all tomorrow!
How do I refer a friend? Is there a referral link?
how do i do that