In the last bear market, I was far more vocal and expressive in both my views and positioning from the highs in December 2021, particularly with alts.
This time, I’ve chosen to be more measured.
The broader backdrop imo still lacks conviction and has done for several months.
As a prospective buyer of Bitcoin and Equities, should markets turn and drift lower then its precisely the kind of environment Im waiting in terms of playing the next cycle.
The deeper the decline, the greater the perceived value... thats for buying imo.
I think Ethereum will drop to its 21W EMA within the next 4-6 weeks (regardless of what Bitcoin does).
After Ethereum hits the 21W EMA, it should then rally to new All Time Highs.
I think we are about to witness the final rotation into Bitcoin this market cycle.
$BTC Sunday update:
Interest Rate cut the 17th Sep... and we get this dip! 👀
Deviation or a deeper correction?
Liquidity drives the market, so let's have a look at the liquidations, imbalances and psychological levels full of liquidity to understand the next move:
🧵↓(1/5)
$BTC
97-98k remains as a level of interest for me.
Should price trade towards that level in the coming week or so, then I’d prefer to look for more favorable buying opportunities in altcoins at lower levels if they set up.
I have locked in most short term trades on alts given that many have are trading at key local resistance zones, not ruling out another push higher before a corrective rotation but remains to be seen...
Lets see what we get.
$SOL
A little pullback n could see 160's next. Reminder to treat charts individually. My $BTC short could chop between 99.5k-102k for days, meanwhile alts could run, then everything pulls back together.
Reply guys super emotional today, relax n trade the chart in front of you.
Alts obviously seeing their window to outperform. But until $BTC convincingly holds above 102K~, this is still a euphoric bounce rather than certain bottom n the start of a new leg. I could see BTC pushing a bit above 100, alts ripping more, then strong retracement on everything.
My thoughts on $BTC $ETHUSD $SOL $SPX $DXY $BERT $FWOG
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