I continue to be bearish on btc and expect us to re enter the 2024 range unless Trump goes back on the tariffs which is extremely unlikely.
The closest comparison we have to where we are now in the context of the chart is September 2024 (the green box) since that is where we deviated below the daily compression only to reclaim it a few days later.
If the reclaim of MA300 does not happen this week then I lean towards the 60k's and possibly even 50k's depending on what tradfi markets do.
I am constantly keeping up with the news and waiting to see if any pivot happens that would send the markets higher but that isn't happening yet.
For now, I will continue trading intraday as it's suicide to hold trades for longer than a few hours.
Still in capital preservation mode, hopefully you guys are too.
Just more chop. Crypto as a whole is out of narratives and we cannot reclaim the daily trend. I lean towards consolidation within D1 100MA and D1 300MA for now.
Even though I expect us to remain within the compression for a while longer, I currently lean towards it breaking down considering the macro conditions.
I was hilariously wrong yesterday but I will use this as a learning experience.
My first set of trades were really good: SOL: 150 to 173 XRP: 2.36 to 2.85 ADA: .83 to 1.05
After closing them for huge profits, I took a break and came back to buy back xrp and ada. This time buying much larger positions at 1.03 and 2.83 thinking we'd rally into friday. So of course I left the positions open during the night and roundtripped the day's gains. Should've kept myself in check emotionally and taken the money, dang.
Now the market looks like ass and I guess we'll be ranging for the next few weeks unless we get a clear catalyst.
Unless we get to mid 70's on btc idk where a good spot to bid would be if we are now in a confirmed downtrend after today's LH