I close positions before bed.
Wake up to everything green.
I celebrate and post.
It dumps an hour later.
The market knows when I'm happy.
From now on I'll only check prices at 3AM. $BTC doesn't care about my timing.
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$BTC
Well, this was quick.
The previous pump and recovery on Bitcoin already got reversed. We are now retesting 60k.
Bitcoin is showing real weakness and is getting ready for the next big move down.
If we don't make a clean recovery by tomorrow, I will most likely start a short.
The whole structure is weak on the daily to weekly timeframes.
As I said previously, big dumps often start with a support level becoming weaker and weaker. In that case: 60k.
$BTC
Good morning. It's very hot currently in Belgium.
Today, Bitcoin bounced strongly and we're now safe from immediate collapse.
By the way, we bounced perfectly at 59 000$, making it a clean double bottom.
However, no matter how strong the bounce is, IF and I repeat IF we retest the lows at 59k repeatedly, the support becomes weaker and we become more likely to crash down hard.
For now, I'm not making a move yet.
Who knows, we may even recover to 67k.
I was wrong to think Bitcoin bottomed back in February, clearly there was way too many of us still bullish. However, seeing some of the biggest bulls over the last few months flip neutral and even bearish means we are WAY closer to the bottom than many of us realize.
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Bitcoin (BTC) is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.
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