Here's my plan for now. There are both positive and negative news that can greatly affect my plan, so take it with a grain of salt and use it mostly as food for thought.
War News: - US involvement, check ✅️ - Bomb nuclear facilities, check ✅️ - Close Hormuz strait, almost a check ☑️ - Hit on US bases, not priced-in, could happen (negative 👎) - War escalation, not priced-in, could happen (negative 👎) - Iran leadership capitulation or regime change, not priced-in, could happen (positive 👍)
Macro news: - 2x FED members open to change of monetary policy and/or rate cuts. Nothing official yet, just comments. - One BBB Act likely to pass. It includes spending and tax cuts.
TA/Charts: - Weekly closed below previous Weekly Close ATH (bearish 🐻) - Daily closed confirming a lower-low in daily structure (bearish 🐻) - LTF; 98-100 local support. 102.7 local resistance. Below 98 -> 93s-95s. Above 102.7 -> Short Squeeze towards 104.7-106.5
Plan: - For now, slowly build some spot positions around the lows. Sell the bearish retest at 104.7-106.5. - If situation is still shitty then expect new lows (93-95), buy them and sell into the next short Squeeze. Repeat until end of summer. It will look something like that; 98->105, 93->101, then a slow reversal. - If situation resolves positively, then 102.8 should become our new support for a time-based bottom. Once the time-based bottom is in, we'll move towards 112k+
Hope this helps you build some kind of Thesis and Perspective. 🙏
Based on everything you're looking at - Charts (TA), Macro, Geopolitics, Market Liquidity, Seasonality etc - Where do you think we're heading next week? $BTC
I'm seeing too many people flip-flopping bias, getting their portfolio chopped to pieces for two weeks now. Some accounts are actively trying to convince you they're entering & exiting 7-figure SPOT positions on a daily basis. Ignore them. They're farming YOU Make a Plan. Execute
You think alts are pumping because $ETH woke up out of nowhere. What if I told you this move has little to nothing to do with ETH and it's definitely NOT random but rather a shift in risk appetite that we've seen before?
- Gainzy threw a tantrum on ETH at the bottom - Value Extractors are back at shilling their Cabal coins - Larps who were 100% in stables two days ago are posting "i told you so" & green PNLs out of nowhere
This Thursday, I will be joined by @teohaik, Engineering Team Leader at @Mysten_Labs, for an Exclusive Interview about the SUI Ecosystem! Thursday - May 8 - 8pm EET - YouTube
SUI you there!👇 https://youtube.com/live/1un94QEX1Kc?feature=share
[Weekly Community Post 🫂] Every now and then, I'm sharing my friends' work to help more people discover it. - This Friday (May 9) my friends at @bitgetglobal (@effiekav / @andr_vlachos) and @AvaxTeam1 (@Oxydo11) are hosting a meetup in Athens. I don't think I'll make it but feel free to check it out!
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