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Beware of Bitcoin`s `Shooting Star` Warning at Record Highs: Godbole

Bitcoin (BTC) started the new year on a high note after tapping into the six-figure mark in 2024. Most observers expect 2025 to be just as remarkable, with projections placing BTC at $185,000 and higher. The road, however, may be as straightforwardly bullish as expected, as the recent price action suggests sellers are looking to reassert themselves, raising the possibility of a notable price drop ahead. We are referring to the price action of December, when bitcoin reached a record high above $108,000 but ended the month negatively, below $94,000, registering its first monthly loss since August. The two-way price action formed a bearish reversal candlestick pattern called the "shooting star" on the monthly chart. The candle features a long upper wick or shadow, reflecting a substantial gap between the high and the open for the given period, paired with a small body, representing a minimal difference between the open and close. The wick needs to be at least twice the size of the body, and the lower wick could be minuscule at best. In BTC`s case, the upper wick is nearly four times bigger than the body, with a tiny lower wick. The shape of the shooting star shows that buyers initially drove prices higher, only for sellers to take control near highs and push prices below the opening level, hinting at a renewed bearishness in the market. "The bears are potentially in control," explains the CMT Association`s Level III textbook, shedding light on the psychology behind the shooting star pattern. The shooting star has appeared after a notable uptrend from $70,000 to over $100,000, warning of a potential bearish reversal ahead, which would be confirmed if prices dip below the December low of $91,186. That`s the level to defend for the bulls. Note that similar candles with longer upper wicks have marked previous bull market tops. Short-term pain The cautious message of the latest shooting star fits into the broader macroeconomic landscape, indicating challenging times for risk assets. It`s primarily driven by recent hawkish signals from the Fed , coupled with rising Treasury yields and a strengthening dollar index . Analysts, however, are confident that the Fed will walk back on its recent decision to signal fewer rate cuts for 2025, ensuring a bullish broader trajectory for BTC and risk assets in general. My prediction for 2025 is simple: higher. Nothing has fundamentally changed since Nov. 5. February will be the best-performing month, with the recent Fed hawkishness still holding broader markets back short-term," trader and analyst Alex Kruger said on X. "The Fed will swing back dovish sometime in Q1, with traders pricing more cuts back in," Kruger said. CoinTurk News

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Trump Loves Dancing (TRUMPDAN) Memecoin Will Explode Over 17,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag

Trump Loves Dancing could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Trump Loves Dancing (TRUMPDAN), a new Solana memecoin that was launched today, is set to explode over 17,000% in price in the coming days. This is because TRUMPDAN is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Trump Loves Dancing can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Trump Loves Dancing could become the next viral memecoin. Trump Loves Dancing launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Trump Loves Dancing on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Loves Dancing by entering its contract address – HVnG6NJCvVDa34VxqR1wmSo18EGtNVJhNR8CQwNwjgpi – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPDAN. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. CoinTurk News