Stocktwits Chart Art: July 08, 2024

The headlines relating to Bitcoin the past few days have been bombastic. Seen "freaking out", "bloodbath" and "selling spree" among other extreme terms recently. But looking at $BTCUSD, volatility isn't crazy for the market and it is still near its 200-day SMA:

$GME #GameStop is going to have a lot of volatility coming up pretty, pretty soon The daily Bollinger band is looking like it wants to blow, either one way or the other

$PLTR - here’s how I think this one is playing out. The stock put in a full bullish cycle between December 2022-March 2024, completing a Wave 5 up at $27. Plenty of selling up there I suspect. Then an a-b-c correction ending in May at $20. And I think a new Wave 1 up from there - currently $28. A bullish look. If the stock can clear $30 it has chewed through all the overhead volume shelves (= potentially unsold inventory of stock) and can move up more quickly I believe. This tallies with a general rotation of capital into enterprise software - we see this across the board at present. As long as any pullback from here holds over say $21-22, I think the bullish look remains. Any questions or comments, reply to this post! (No position in PLTR personally).