@pdicarlotrader ๐งข I respect your work and what u do, however i pointed out that u have a bearish divergence on the histograms of your indicator once we were unable to close above $500. If there was true strength in the market we would have taken out the high on your indicator from 2024
As the market continues to struggle to see TOTAL2 and the Russell 2000 break out, I have decided to take a defensive play.
I am actively selling 1/3 of my entire crypto holdings until the market proves it can escape.
In today's video, I expressed how it's such a "make or break" moment where the market is. This is the escape zone, or the rejection zone. It's the all-time high battle. Where markets turn euphoric and exciting or horrifyingly ugly.
There are several bull cases, and several bear cases. But the market needs to prove itself from here.
As we have finally reached September, it has been a month I always intended to take some profits in. I talked about it for months leading up to it. I make a lot of charts, but I'm not a "day trader." September 19th was the date that 95% of my crypto holdings reached Long Term Capital Gains tax status. Which means I've held 95% of my crypto for over a year. It was a date I anxiously waited for, frequently thinking "can it get here any faster?" And, we just so happen to be at a major resistance point and inflection level at the same time, making it technically appropriate as well.
I rarely make trades, so this is a big deal for me. The last time I publicly did major sells was in March and April of 2024.
But, with the market waddling here, unable to decide yet. I am left with this overwhelming feeling that I'm gambling by doing nothing and hoping and wishing for it to breakout. I don't like that feeling. And it feels like the right decision is for me to de-risk some, and await for it to break out, and then re-asses entries into coins I'm passionate about. Rather than this laundry list of things I own. But to be able to enter more precisely into the ones I really want if the breakout comes.
You shouldn't rely on my choice of coins, as I just go based on data of user activity, social engagement, percentage drawdowns and developer activity.
But I don't mind sharing them with you. The coins that interest me in the event of a breakout into all-time highs are XRP, SUI, ETH, LINK, ADA, and SOL. No small cap gems that'll 100X. (Sorry) Just simple boomer stuff. And no promises they'll do anything.
I broadly went through my portfolio and reduced without favoring anything. Not as a restructuring for a bear, which of course could come, but just as a risk reduction in this environment of uncertainty while the market makes its decision. If we get the breakout in the Russell and TOTAL2, I have no problem flushing cash right back in to ride a breakout. It's merely 3% away for the Russell 2000 and 9% away for the altcoin market. But, I know this is the right decision for me with the level it is at, and the timing of where we are in September. Some coins I took major gains on. Some, I took losses. But in the end, my portfolio is near record highs after being in this market for 8+ years, and it feels appropriate.
Hopefully in a week from now I'm quote tweeting this and saying "blasted cash back in." But till then, it's a waiting game for the market to dish out its cards.
@TeoGalaGang@BCBacker He steals content from smaller channels, look at when this guy posted his thesis then go to when bcb turns suspiciously bearish and starts sellingโฆ.he even adopted this guys moving averages style lol https://t.co/B7gxKjhUSG
๐ $BTC Weekly Chart Review
BTC bulls continue to struggle at the $120K wall, with bears successfully defending the level again. The week closed with an indecision candle below our $117.3K target, finishing at $115.3K.
๐ Momentum Check (Weekly)
RSI is trading below the 20 SMA
RSI rejected at 60
Bearish divergence (since March 2024) still in play
๐ Key Levels
โ๏ธ Resistance: $120K remains the ceiling
๐ก๏ธ Support: Bulls must defend the 20-week MA at $111.7K
โ Failure at $111.7K: Risks a drop to $108K, with potential flush to the 50-week MA near $99K
๐ Macro Catalysts This Week
Thursday: Initial Jobless Claims + GDP estimates
Friday: Core PCE inflation
๐ If these prints come in hotter than expected (higher inflation / weaker employment), it could be the catalyst bears need to push BTC lower, accelerating a flush toward $108Kโ$99K.
๐ก Bottom Line: Bulls need a decisive weekly close above $120K to regain momentum. This weekโs economic data adds extra risk โ strong numbers could fuel the bears, while softer prints might give bulls another shot at a breakout.
#crypto #btc #ALTSEASON
As the market continues to struggle to see TOTAL2 and the Russell 2000 break out, I have decided to take a defensive play.
I am actively selling 1/3 of my entire crypto holdings until the market proves it can escape.
In today's video, I expressed how it's such a "make or break" moment where the market is. This is the escape zone, or the rejection zone. It's the all-time high battle. Where markets turn euphoric and exciting or horrifyingly ugly.
There are several bull cases, and several bear cases. But the market needs to prove itself from here.
As we have finally reached September, it has been a month I always intended to take some profits in. I talked about it for months leading up to it. I make a lot of charts, but I'm not a "day trader." September 19th was the date that 95% of my crypto holdings reached Long Term Capital Gains tax status. Which means I've held 95% of my crypto for over a year. It was a date I anxiously waited for, frequently thinking "can it get here any faster?" And, we just so happen to be at a major resistance point and inflection level at the same time, making it technically appropriate as well.
I rarely make trades, so this is a big deal for me. The last time I publicly did major sells was in March and April of 2024.
But, with the market waddling here, unable to decide yet. I am left with this overwhelming feeling that I'm gambling by doing nothing and hoping and wishing for it to breakout. I don't like that feeling. And it feels like the right decision is for me to de-risk some, and await for it to break out, and then re-asses entries into coins I'm passionate about. Rather than this laundry list of things I own. But to be able to enter more precisely into the ones I really want if the breakout comes.
You shouldn't rely on my choice of coins, as I just go based on data of user activity, social engagement, percentage drawdowns and developer activity.
But I don't mind sharing them with you. The coins that interest me in the event of a breakout into all-time highs are XRP, SUI, ETH, LINK, ADA, and SOL. No small cap gems that'll 100X. (Sorry) Just simple boomer stuff. And no promises they'll do anything.
I broadly went through my portfolio and reduced without favoring anything. Not as a restructuring for a bear, which of course could come, but just as a risk reduction in this environment of uncertainty while the market makes its decision. If we get the breakout in the Russell and TOTAL2, I have no problem flushing cash right back in to ride a breakout. It's merely 3% away for the Russell 2000 and 9% away for the altcoin market. But, I know this is the right decision for me with the level it is at, and the timing of where we are in September. Some coins I took major gains on. Some, I took losses. But in the end, my portfolio is near record highs after being in this market for 8+ years, and it feels appropriate.
Hopefully in a week from now I'm quote tweeting this and saying "blasted cash back in." But till then, it's a waiting game for the market to dish out its cards.
@WorkingMoneyCH@BCBacker went bearish after seeing others speaking about it, why do u think all his followers were confused on his sudden switch. Just another big account stealing thoughts from smaller accounts
https://t.co/B7gxKjhUSG
๐ $BTC Weekly Chart Review
BTC bulls continue to struggle at the $120K wall, with bears successfully defending the level again. The week closed with an indecision candle below our $117.3K target, finishing at $115.3K.
๐ Momentum Check (Weekly)
RSI is trading below the 20 SMA
RSI rejected at 60
Bearish divergence (since March 2024) still in play
๐ Key Levels
โ๏ธ Resistance: $120K remains the ceiling
๐ก๏ธ Support: Bulls must defend the 20-week MA at $111.7K
โ Failure at $111.7K: Risks a drop to $108K, with potential flush to the 50-week MA near $99K
๐ Macro Catalysts This Week
Thursday: Initial Jobless Claims + GDP estimates
Friday: Core PCE inflation
๐ If these prints come in hotter than expected (higher inflation / weaker employment), it could be the catalyst bears need to push BTC lower, accelerating a flush toward $108Kโ$99K.
๐ก Bottom Line: Bulls need a decisive weekly close above $120K to regain momentum. This weekโs economic data adds extra risk โ strong numbers could fuel the bears, while softer prints might give bulls another shot at a breakout.
#crypto #btc #ALTSEASON
$XRP Technical Breakdown ๐ง
Weekly:
โข Bulls must reclaim the 50MA at 2.54 or risk a retest of the 100MA at 1.57
โข RSI below 50 & Stoch weak โ momentum fading
โข MACD flirting with 0-line, watch for a bearish cross
Monthly:
โข Holding the 20MA, but pullbacks to it often repeat before trend continuation
โข RSI needs to hold 50 to stay in a bullish macro structure
โข Still no monthly close above 3.04 โ thatโs the breakout trigger
ETF hype means little โ BTC & ETH ETFs didnโt spark lasting rallies.
Iโm 60/40 to the downside short-term, but a close above 3.04 flips the whole setup bullish.
#XRP #Crypto #TechnicalAnalysis