WULF - Rekt Sheep 💀

13 May 2024

Ascending wedge appears to be drawing to a close here.

It has become very shallow and calm in this recent area.

Calm tends to arrive before a storm.

There are bearish RSI divergences that cannot be seen through rose tinted glasses.

Earnings later today could do anything...

But right here WULF looks set to roll off the table down and down 👇🏻.

Fanboys that can't read a chart are about to find out 💀.

Not shorting, I only want deep buys down the road...

Not advice

13 May 2024

Not

WULF

14% earnings slump and WULF has collapsed through the shakeout demand line.

This is just the beginning 😼.

17 May 2024

Not

WULF

Looking sheepish as Bitcoin has a hard bounce 🐑.

23 May 2024

Not

Its just a matter of time...

30 May 2024

Not

Small recovery bounce but notice that it is still below the Demand Line.

This trendline will now have a lot of resistance as will all the peaks.

It could perhaps probe back above the trendline to print a bull trap shakeout.

But the chance of it holding above for a longer duration is slim.

There have been much better trades than WULF in this area.

Check my other calls ETH - Up 35%, TRU up 90%, TRUMP up 150% 🚀

All while WULF and most BTC miners have been doing nothing.

That's why you can be a seasoned researcher and know all about the FA story of WULF and how great it is or whatever.

But if you can't read a chart then you have no clue about the overall market dynamic and your strategy is nothing more than blind hodl; missing out on great opportunities elsewhere and makes you a sitting duck for big losses.

4 Haz 2024

Not

WULF

And IREN are on the pop today; 24% and 16%.

WULF is very exotic here, but effectively I think the slump failure through the demand line was a critical event, and now this bounce back up through the trendline sets up a potential shakeout to tumble back down.

Considering that Bitcoin is moving on up, the current wave up could even go much higher and do something wild.

But the chart looks terrible and there will likely be heavy selling pressure whenever Bitcoin has a significant correction 🧐.

5 Haz 2024

Not

Kerrisdale firm are short RIOT today. That should serve as a warning.

WULF is up high today; still time to get out.

From their Twitter:

"Today, we launch a war against bitcoin miners, an industry of snake oil salesmen that are incinerating both investor capital and the environment and should be banished from America much like the Chinese RTO frauds that we helped kick out a decade ago."