Bitcoin is doing it again.
Not the fun part yet. The part where it gets everyone doubting the whole thing before the next cycle can really begin.
People forget how this asset works. It does not just go up because “halving.” That is the kindergarten version. The real engine is fixed supply meeting human emotion. There will only ever be 21 million coins, so when demand wakes up and real holders stop selling, price has to climb until it finds enough coins willing to move.
That is how you get the insane runs. The 1k to 20k move. The 3k to 69k move. The 15k to 126k move.
But then comes the part nobody likes.
Bitcoin has to digest what it just ate.
If an asset runs 8x, the market does not just calmly reset in three weeks and move on. It has to work through late buyers, leverage, weak hands, tourists, ETF flows, and everyone who bought the top calling themselves a long-term investor until the candles turned red.
That is where the downside gets ugly. The person who bought too early in the downtrend eventually becomes a seller lower. The trader who thought he was buying the low finds out he was just catching another bounce. The leveraged long does not get to be patient. He gets liquidated. Perps and synthetic exposure make the whole thing worse because they create extra demand on the way up and forced selling on the way down.
This is how Bitcoin gets those elevator-down phases.
Not because it died. Because ownership is being cleaned up.
Coins move from people who liked the price action to people who actually want the asset.
That process feels terrible while it is happening, which is exactly why it works. Doubt comes back. The timeline gets dark. People say AI replaced it. Stocks are better. Bitcoin had its moment. The whole thing is over.
And somehow they say this while Bitcoin is still trading above the last cycle’s blow-off double top.
Think about how crazy that is.
The 2021 top near 69k was viewed as this insane parabolic event after a 20x plus move from the prior cycle low. Now, after 7+ months of crypto winter, Bitcoin is still hanging around that old “impossible” zone, and people are acting like the asset failed.
That is not failure. That is a much higher floor trying to form.
Maybe the final floor is already in. Maybe it is not. Nobody knows. The only way to stay sane is station to station. If you think it is going lower, fine. Mark the next real support. Mark the level above that proves your read is wrong. Then update when price gives you new information.
Do not do what the eternal bears do.
Do not pick some dramatic number like 15k, 3k, or zero and then build your whole personality around it. That is how people blind themselves. They stop doing analysis and start defending a prophecy.
Being wrong is not the problem. Everyone is wrong. The problem is refusing to say, “I was wrong,” when the market has clearly moved on.
That is why Bitcoin is such a funny asset. Most bears do not say it is expensive. They do not say it needs a normal correction. They say it is going to zero.
They said it at $7. They said it at $70. They said it at $700. They said it at $7,000. Now they say it when one coin is worth more than most people make in a year.
That is the magic.
Bitcoin creates doubt, then feeds on the people who get trapped inside it.
It runs. It digests. It makes everyone question the whole thing. Then when the floor is finally found, the same people who were waiting for zero are shocked when it starts moving again.
The supply is still fixed. The emotions still swing too far. The believers still absorb the panic. The doubters still give it fuel.
Everyone is falling for it again.
$BTC
The best approach is probably just to DCA consistently over the next few months.
Historically, long term holders have almost always outperformed traders. As for the idea of BTC testing 55K, if history repeats itself, we could definitely see price trend below 60K at some point.
However, at some point history will deviate. So calling for 55K specifically is a pretty aggressive prediction.
You also never want to get too attached to one exact target because that increases the chances of getting front run.
Stick to a plan. Keep it simple. 🤟
As 👁️ see it
A recognizable bottom has NOT NOT NOT been completed in Bitcoin. A possible bear channel exists from the Feb low. Price is being repealed from the upper boundary. An ATR close below 79145 would indicate a retreat back to mid point, then maybe the lower boundary
$BTC weekly
Support 78k
Resistance 86k
The more I check the charts the better BTC looks
Now could we get fucked over by some geopolitical dumb shit?
Of course
But the technicals are quite alright to me
$BTC
The Year of Accumulation
Despite all the noise and my mid timeframe bearish thesis, you should already know what I’m doing with spot.
Three of my HTF fills have already been hit. Yes, I still expect lower prices, but when it comes to investing, anything at –50% is always a gift, especially in the best performing asset of the decade.
So yes, I’m short from 72.8K and expecting sub-60K, but never confuse that with what I’m doing on the mega-HTF.
Trading and investing are two completely different games. 🤌
What happens to $BTC when @tether print $1B USDT?
As you can see, the prints are occurring around decisive moments, swing highs/lows and just before volatility.
We’ve had two 1B prints recently, but that doesn’t necessarily mean an explosive move is coming. In fact, it could suggest the opposite.
With these mints, it’s important to pay close attention to the narrative and market structure.
During downtrends, they can indicate continuation lower, local tops or bottoms depending on market structure, or short-lived upward retracements before price resumes its decline.
Hopefully you learned something new...
Dutch Govt: "We have a massive budget crisis."
Citizens: "Okay, stop spending billions on asylum hotels."
Dutch Govt: "No."
Citizens: "Then cut foreign aid?"
Dutch Govt: "No. We’re going to tax your capital gains 36%... even if you haven't sold them."
If your trading style is slow and boring, you are investing. If it's fast and fun, you are gambling. The best way to balance this is to put majority of your net worth into the boring stuff and then try to feed the boring account with the fun account knowing you have a safety net.
Incredibly rare and bullish Bitcoin signal is firing. Mayer Multiple, perhaps the oldest Bitcoin model. It rarely hits 0.6x. Can price go lower? yes, but this is historically one of the best buy signals in Bitcoin history.
Buy low and selling high only works when you actually sell high so you have cash to buy low. There's a reason it's so hard to take profits because you aren't selling when things look bad, you are having to sell when it's fun, things look great, and greed clouds your judgement.
No-coiners underestimate the conviction Bitcoiners have. This isn’t a stock that can go bankrupt or blow up from a management scandal. NOTHING changes what Bitcoin is currently capable of, and with larger adoption, it only gets better. This isn’t a trade. We HODL forever.
In 2035, long after we forget about Donald Trump, Epstein, World Liberty Financial, Ghislaine, Bill Gates's Escapades, and Prince Andrew,
There will still be just 21 Million Bitcoin.
Get one now while you still can.
I’m sure @saylor is currently unphased by stories about his cost basis, because he is too busy finding more ways to aggressively buy cheaper bitcoin.
He must be loving this.