Miles discusses a significant upturn in the cryptocurrency market, particularly Bitcoin's recent performance. He notes that Bitcoin has seen its best day in 29 months, rising 22% from Monday's lows and gaining $120 billion in market cap. This surge coincides with strong performance in the stock market, especially among NASDAQ tech stocks.
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Miles believes this could be a buying opportunity as Bitcoin breaks through key resistance levels. He highlights positive inflows into Bitcoin spot ETFs, reversing the trend of outflows seen in previous weeks. This shift in momentum, coupled with potential easing of monetary policies by central banks worldwide, creates what Miles calls a "beautiful early bull setup."
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Regarding trading strategy, Miles advises caution but optimism. He suggests bidding on retests of support levels, focusing on the strongest performing altcoins. He emphasizes the importance of having clear invalidation points for trades, such as Bitcoin falling below $60,000.
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Miles then lists several altcoins he's watching closely, including Sui, Solana, Jupiter, TON, and some meme coins like MOG and POPCAT. He explains that he looks for coins showing relative strength and clear technical setups.
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Throughout the discussion, Miles stresses the importance of combining fundamental analysis with technical setups when making trading decisions. He advises readers to be patient and selective, rather than blindly buying everything.
Finally, Miles mentions that he provides more detailed and timely updates on his trades through his Discord community, the Mars High Club, for those interested in more hands-on guidance.
