Bitcoin Long Entry or Deadcat bounce
If Bitcoin manages a daily close above 43K, we will have a massive bullish engulfing setup on the daily timeframe at the 200MAs. This could potentially be a great buying opportunity unless the whales decide to fake us out again.
As the markets continue to develop, I want to share with you my latest thoughts and how im personally positioning my portfolio. This is not financial advice, merely sharing my own strategy.
There is no doubt in my mind that the move in recent days was coordinated whale manipulation. Whether its Musk, China, Justin Sun, 4Chan, or a mix of these, i dont know. and i cant say for sure that the rumors about these guys trying to push price down to 25K is or is not true and if they will succeed if they do attempt to do so. which is why before we broke the H&S at around 48-50K, i took some profits and moved the majority of my remaining portfolio to btc. this way im covered either way. Ive learned from 2017 that you cant be too greedy. it is taking profits that actually allows you mentally to be able to hodl.
I've sold pretty much all of my alts except for uni (my defi play) and dot (my L1 play) and some BNB for fee reduction
my logic is this: if weve entered a bear market, im ok hodling btc, because in the next cycle, it will recover. btc isnt going anywhere. same thing cant be said for most alts. you dont want to hodl something to 0. if on the other hand, this whole thing was an engineered capitulation by institutions before the real bull run, BTC might actually outperform alts as they will be looking to acquire btc first (in fact, the thinking here is to hodl coins that institutions would scoop up, which wont be your rank 687 coin on cmc, also partly why i have UNI, because listing of coinbase on nasdaq has shown these traditional financial institutions the profit model of exchanges). and even if alts start to outperform btc, im ok with less profit for the lower risk and i would most likely still have time for markets to create structure for me to rotate some btc to alts.
As the markets continue to develop, I want to share with you my latest thoughts and how im personally positioning my portfolio. This is not financial advice, merely sharing my own strategy.
There is no doubt in my mind that the move in recent days was coordinated whale manipulation. Whether its Musk, China, Justin Sun, 4Chan, or a mix of these, i dont know. and i cant say for sure that the rumors about these guys trying to push price down to 25K is or is not true and if they will succeed if they do attempt to do so. which is why before we broke the H&S at around 48-50K, i took some profits and moved the majority of my remaining portfolio to btc. this way im covered either way. Ive learned from 2017 that you cant be too greedy. it is taking profits that actually allows you mentally to be able to hodl.
I've sold pretty much all of my alts except for uni (my defi play) and dot (my L1 play) and some BNB for fee reduction
my logic is this: if weve entered a bear market, im ok hodling btc, because in the next cycle, it will recover. btc isnt going anywhere. same thing cant be said for most alts. you dont want to hodl something to 0. if on the other hand, this whole thing was an engineered capitulation by institutions before the real bull run, BTC might actually outperform alts as they will be looking to acquire btc first (in fact, the thinking here is to hodl coins that institutions would scoop up, which wont be your rank 687 coin on cmc, also partly why i have UNI, because listing of coinbase on nasdaq has shown these traditional financial institutions the profit model of exchanges). and even if alts start to outperform btc, im ok with less profit for the lower risk and i would most likely still have time for markets to create structure for me to rotate some btc to alts.
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.