BullsBytes

Prop Trader

[BullsBytes @BullsBytes]

I started a new $100K prop challenge.

This time, I'll be documenting the full journey.

What happens before funding is where the real lessons are.

I'll share the whole process.

[BullsBytes @BullsBytes]

The daily close provided the answer.

$BTC closed below the 65K level and pushed into the 61K region during the Asian session.

That confirmed the bearish scenario discussed in the previous update and shifted focus toward the major HTF area around 60K.

Since then, BTC has reacted from the lows, but the broader bearish pressure remains intact for now.

The 60K region remains a key HTF area to keep an eye on moving forward.

[BullsBytes @BullsBytes]

BTC spent most of the day trading around the major HTF demand zone.

The daily close is becoming increasingly interesting.

If the daily candle pushes deeper into the demand zone and tags the $65K level, the reaction there will be worth watching closely.

A strong daily close from this area could be the first step toward a meaningful relief bounce and the beginning of new structure.

However, if BTC closes decisively below the $65K level, focus shifts toward the next major HTF demand zone around $60K, which is currently the major low established earlier this year.

The daily close could provide the next clue regarding direction from this demand zone.

[BullsBytes @BullsBytes]

BTC closed below the 65K region and pushed into the 61K area during the Asian session.

The demand zone I was watching has been breached.

For now, I'm still not in a trade.

I still don't see enough structure to justify an entry.

At this stage, I'm more interested in what develops next than trying to catch a bounce.

For now, patience remains the trade.

$100K Challenge | Day 4

[BullsBytes @BullsBytes]

BTC spent most of the day trading around the major HTF demand zone.

The daily close is becoming increasingly interesting.

If the daily candle pushes deeper into the demand zone and tags the $65K level, the reaction there will be worth watching closely.

A strong daily close from this area could be the first step toward a meaningful relief bounce and the beginning of new structure.

However, if BTC closes decisively below the $65K level, focus shifts toward the next major HTF demand zone around $60K, which is currently the major low established earlier this year.

The daily close could provide the next clue regarding direction from this demand zone.

[BullsBytes @BullsBytes]

Also today, no trade.

$BTC spent most of the day trading around the major HTF demand zone.

The daily close is now becoming increasingly interesting.

Will BTC push deeper into the 65K region, or will the real reaction start tomorrow?

At this stage, I still don't see enough structure to justify a trade.

The move lower has been aggressive.

The next step is seeing whether BTC can start building structure from this zone.

Until new structure starts to develop, it's still a waiting game.

I'm staying patient and will be monitoring the reaction.

$100K Challenge | Day 3

[BullsBytes @BullsBytes]

$BTC has now reached the major HTF demand zone that I've been discussing over the last few days.

Price tagged the 65K region during the Asian session and has started reacting from the area.

I'm still not in a trade.

For now, the focus shifts from continuation to reaction.

The next question is whether bulls can start building structure from this zone, or whether this turns into nothing more than a temporary relief bounce.

For now, I'm still watching and waiting.

$100K Challenge | Day 3

[BullsBytes @BullsBytes]

$BTC has now also broken below another important 4H support region around 70K.

This confirms what I mentioned earlier when BTC closed the week below 74K.

Once that level was lost, the probability of further downside increased, with the next major HTF support region sitting around 65K.

This is still not a trade opportunity for me.

The move is now heavily extended to the downside.

Shorting here would mean chasing the move, which usually leads to poor timing and an unfavorable risk-to-reward ratio.

That's exactly the type of trade I avoid.

For now, it's still a waiting game.

First, I want to see a relief bounce and some new structure develop.

If that happens and the 4H trend remains bearish, then potential short opportunities may start to open up.

$100K Challenge | Day 2

[BullsBytes @BullsBytes]

@SUIBOY_1 Love to hear it Paul! That's a win in itself. Missing a move and then avoiding FOMO is progress.

[BullsBytes @BullsBytes]

Also today, no trade.

The BTC move that started yesterday was aggressive.

Structure broke and BTC never looked back.

When structure breaks under these kinds of conditions, I prefer to stay on the sidelines and simply observe.

If you were already positioned, that's one thing.

But if you missed the move, then you missed the move.

Chasing it afterwards usually leads to poor timing and poor risk-to-reward opportunities.

That's why I continue to avoid those trades.

Right now, it's important to see BTC start building new structure again.

The first sign would be exhaustion and the potential for a relief bounce.

I don't think we're there yet.

There is still significant downside pressure.

For now, I'm staying patient, monitoring the market, and waiting.

That's the best trade for me right now.

$100K Challenge | Day 2

[BullsBytes @BullsBytes]

$BTC has now entered the major HTF demand zone around 68K-65K.

The interesting part is how the structure developed.

74K HTF support was lost.

The weekly closed below it.

70K broke.

Downside continuation followed as mapped in previous updates.

This is exactly why I focus on price action and structure.

News changes every day.

Narratives change every day.

Price tells the real story.

That's what I pay attention to.

Markets rarely move because of headlines.

Price doesn't care about narratives.

It respects structure.

[BullsBytes @BullsBytes]

$BTC is now testing the weekly 200 EMA.

This is one of the most important levels on the chart right now.

The breakdown below 74K and 70K created bearish momentum.

The reaction here will tell us whether that momentum can continue, or whether the market is ready for a relief bounce.

At this stage, I'm more interested in the reaction than the move that brought us here.

[BullsBytes @BullsBytes]

$BTC has now also broken below another important 4H support region around 70K.

This confirms what I mentioned earlier when BTC closed the week below 74K.

Once that level was lost, the probability of further downside increased, with the next major HTF support region sitting around 65K.

This is still not a trade opportunity for me.

The move is now heavily extended to the downside.

Shorting here would mean chasing the move, which usually leads to poor timing and an unfavorable risk-to-reward ratio.

That's exactly the type of trade I avoid.

For now, it's still a waiting game.

First, I want to see a relief bounce and some new structure develop.

If that happens and the 4H trend remains bearish, then potential short opportunities may start to open up.

$100K Challenge | Day 2

[BullsBytes @BullsBytes]

@Labochain Appreciate it Guillaume. Let's see how BTC reacts from here.

[BullsBytes @BullsBytes]

$BTC has clearly broken below the 4H range today.

The move played out exactly as the bearish weekly close suggested.

I'm still not in a trade.

At this point, I'm more interested in seeing how the market reacts than chasing the move lower.

For now, I'm staying patient and letting the market show its hand first.

$100K Challenge | Day 1

[BullsBytes @BullsBytes]

$BTC has now broken below the 4H range.

The bearish weekly close suggested further downside was possible.

Today the market followed through.

I'm still not in a trade.

Price is already extended to the downside.

For now, I'm waiting for the market to come to me.

Patience is key here.

I have no interest in chasing this move.

[BullsBytes @BullsBytes]

Today is the first day of the new $100K prop challenge.

Going into the week, I was watching one level closely.

The $74K region on $BTC.

For me, that was a major HTF pivot.

Bulls needed to defend it.

They didn't.

BTC closed below the level, which shifts the higher timeframe bias toward the bears and increases the probability of a move toward the next major HTF support region around $65K.

That doesn't mean I'm opening a short right now.

Price has already moved lower.

I don't like chasing moves.

If BTC retraces back into the $74K region and starts showing signs of rejection, that's where I'll start paying attention to potential short opportunities.

Until then, patience is the trade.

The challenge starts today.

The first decision is doing nothing.

[BullsBytes @BullsBytes]

@SUIBOY_1 That's a great point. Even perfect risk management can't save a strategy if the entries aren't producing enough edge.

[BullsBytes @BullsBytes]

Be honest.

What costs traders the most money?

Bad entries?

Poor risk management?

Impatience?

Emotional decisions?

Breaking their own rules?

Pick one.

[BullsBytes @BullsBytes]

Sunday is a good moment to review the charts.

Just to get a clear view of where the market is sitting before the new week starts.

During the weekend, price often slows down and compresses. That makes it easier to step back, study structure, mark the important levels, and think through a few possible scenarios.

Where is price trading now?

Where is liquidity resting?

Where does the trend still make sense?

Where would I actually want to risk money?

I just want to know what I’m looking for before liquidity comes back in.

Most traders make a plan after price already moved.

I’d rather do the thinking before the week starts.

[BullsBytes @BullsBytes]

I skipped a valid BTC short this week.

Not because I was bullish. I wasn’t.

The trend was clearly bearish and the signal was there. My system did exactly what it was supposed to do.

But the context was weak.

It was off hours, volume was very low, there was no killzone, and the daily chart was already stretched into the move.

Could the trade still win? Of course.

But good trading is not about catching every trade that can win. It is about only risking capital when the setup, timing, and context all meet your standard.

Most traders see a signal and immediately think “trade.”

A signal should only get your attention.

Context decides if it deserves your risk.

[BullsBytes @BullsBytes]

It's Saturday.

Take some time to reflect.

What went well this week?

What didn't?

Were your entries good?

Were they bad?

And more importantly...

Why?

If you want to become a serious trader, you need a journal.

Your journal is a mirror.

It shows you what you're doing right.

It shows you what you're doing wrong.

It shows you where you need to improve.

There is no shortcut.

There is no other way.

If you're not reviewing your trades, you're not developing a skill.

You're just repeating the same mistakes and hoping for a different outcome next time.

Successful traders review.

Be that trader.