Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Crypto – Crisis? What Crisis?

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In my post on 20th February I was looking at the big support levels on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD). I was leaning towards seeing a retracement / consolidation on Crypto in the first half of this year and then strong new highs towards the end of the year with possible bull market highs pencilled in for Nov/Dec 2025.

On Solana I gave three big support ranges and we were testing the second 180-216 range on a weekly close basis at the time. The third level is the 120-150 support/resistance range and by the time of my last post on Tuesday Solana was testing that and, with the low so far today at 125.43, is still holding the lower end of that range. I added that on a break below there is a last level at the Aug 2024 low at 110.02 that, if broken, would then raise a very real question as to whether the bull market is over.

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Crypto Hitting Big Support

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In my last post I was looking at the big support levels on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD). I was leaning towards seeing a retracement / consolidation on Crypto in the first half of this year and then strong new highs towards the end of the year with possible bull market highs pencilled in for Nov/Dec 2025.

That is still my view and I still don’t think that the bull market is over. I did promise to cover why that is in this post but I have other things to look at today so I’ll be looking at that in another post before the end of the week.

On Bitcoin (BTCUSD) I was looking at a very obvious backtest target at the 2021 bull market highs. I’ve marked that on the chart below in the $64.9k to $69k range. I also have a rising support trendline from the October 2023 low that is currently in the $65k area and due to reach $69k in May.

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Looking at Crypto Support Levels

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In December I was leaning towards seeing a retracement / consolidation on Crypto in the first half of this year and then strong new highs towards the end of the year with possible bull market highs pencilled in for Nov/Dec 2025.

That retracement / consolidation is now in progress and I’ll be looking today at the key support levels I’ll be watching on what I expect to be a bullish consolidation.

Is it possible that the Crypto bull market has already ended? Yes, but I’m leaning against that. I’ll be explaining why that is in my next post.

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He Sure Showed Me!

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Considering what a strident contrarian I am, I get a surprisingly small amount of crap from the outside world. On the last day of 2024, I made yet another snarky remark about Bitcoin, and some random replied “You have no idea what’s coming on Jan. 20“. I took the liberty of bookmarking his tweet for later reference.

In fairness, this rando was right-o, because indeed I had no idea what was coming. However, I don’t think what this guy was anticipating was a lifetime peak in $BTC to be following by a sluggish wipeout of about $15,000 per coin. Interestingly, crypto peak pretty much when Trump put his hand somewhere in the vicinity of the Bible.

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