this is one of those special moments where you can test if your trading beats just holding.
If your balance is higher than it was at the end of August, you've done well.
if it's lower, maybe it's time to rethink your approach.
i think we're getting dangerously close to a pretty important decision for this market.
bitcoin and ethereum are sitting around crucial levels. zec, hype and some of the strongest altcoin narratives are looking heavy too. and there's really not much on the crypto side that could change this picture right now.
even equities are back under pressure.
yesterday the Nasdaq rallied almost 3% and bitcoin barely participated. today CPI comes in hot, yields are pushing higher, stocks are selling off and crypto is getting hit again.
what concerns me most is the possibility of equities starting another leg down before crypto has even recovered from the previous one.
protect the lines or we're done.
from 1.5 to 1 - funny how after all these years of financial innovation, the one thing wall street learned from crypto was FDV (fully diluted valuations)
we broke levels that would take a new cycle to get back into.
can already feel that crypto is weaker than the stock market, especially compared with last week.
we've got the whole AI trade under pressure plus this Nvidia new investigation, CPI coming Tuesday, the Fed potentially hiking again, and a war in Iran keeping geopolitical risk very much alive.
explained in one pre-futures-open chart