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Lacy revealed he recently sold all his personal assets to put EVERY dollar of his name into Bitcoin, claiming he knows something people don't ๐ณ
"I actually put all my money every dollar I have and put it into Bitcoin, I'm telling yall right now I know things"
$BTC
As someone who shorted 125 before a few days before 10/10 - having been extremely cautious for several weeks prior - and laid out my reasoning weeks in advance on public streams on YouTube...
The recent surge in pessimism now that BTC is trading around 60k does not surprise me tbh.
Some voices seem almost gleeful that their late bearish thesis has been โrightโ (what took you guys so long initially?)
Though I suspect many never actually traded it. Armchair trading is comfortable when you have a large following with a mega subscription service...cool
Putting the trade on is what matters and all I care about.
For what itโs worth... the lower BTC goes... the more attractive it becomes from an asymmetric upside perspective.
Much of the doom... I suspect... comes from those who held all the way down.
For those in cash... opportunity is ahead... even if there may be a few more storms to weather ? Time capitulation ?
Watch for signs of seller exhaustion... and perhaps the kind of jaw-dropping capitulation event many of us know all too well as far back as 2018...
For me... it makes sense to start thinking ahead about buying levels... and execution strategy.
Iโve never been interested in catching the exact bottom... nor am I a pure value investor...
Having aggressively shorted the market down from the November 2021 highs... I wasnโt interested in catching the exact bottom, could argue I was rather too defensive at the lows (I was in the recession camp - lesson learnt - dont get too caught up in the macro... but we all get it wrong once in a while and learn from it.
I may be slightly late again - hopefully not, but probably and I'm fine with that... just as I was in 2023 when I bought back in around 30k... despite having traded the 15k to 30k range for the best part of nine months and out performed btc during that period.
The biggest gains come from upside trends... momentum, the meat of the move.
Embrace the downside... if it continues.... thats future opportunity.
And eventually... the next cycle begins...
@HoudiniCapital Yeah def, $ETH bottomed at โ $900 in June 2022, this time it could also find a bottom earlier than $BTC. Thanks for sharing! hadn't thought about this.
59K gave a 5% bounce on #BTC
Local bottom in if it flips above 62Ks IMO. Another weekend bottom incoming? (Could still to lower though, especially if we keep flirting with 59K)
BTC dumped 30% in 30 days. Expecting a little relief here before lower, 60K entries are going to get SL' ed... I'll look to start enter longs at 57/58Ks (that's the lower side pocket fib from the 2024 low till 2025 highs)
Happened overnight. Next time have to sleep later to trigger position after daily close. Now I entered 25% of position. Will add upon more 4h closes below 65Ks
didn't get a solid cascade yesterday and bounce has been pretty lacklustre so far
something to watch out for if there's no follow through in the next few hours