Bitcoin: You are not bearish enough

5 нояб.

If you had spoken to me last week I would have given you my expert opinion that my expert opinion was going to be WRONG. I have been of the sentiment that Bitcoin was not going to break the ATH this year and return back to the ETF launch level of 43k. As price rose to test the 2024 ATH I was just as sure as the bagholders I would be proven wrong. That did not happen... in a rather spectacular fashion.

In my past posts and videos I laid out the possible scenarios for price action. One of which was the traversal from 69,420 up to the prior ATH of 73,575. This is something one can just assume when a secondary Resistance is broken that price will move unimpeded to the major Resistance. Breaking an ATH though is the test but often momentum is such that it will just... do it.

What I honestly did not expect is for not only the failure to break to happen but also price close the week BACK INSIDE the three major levels of Resistance I have been harping on for the last two weeks. Bar closing are the great decider. It is always best to wait for them to occur before assessing. This has served me well.


The meme I noted on social media last week was "you are not bullish enough." I think that Bitcoin investors got bullish for good reason but now the rejection has happened. If it was going to go... it should have gone.

Trade wisely.

5 дней назад

Сделка закрыта: достигнута стоп-лосс цена

Yea being wrong sucks