Pierre
Pierre 2 minutes reading from Bitcoin

Price Analysis: Hitting the End of Bear Market Rally

BTC - H4

- Failed to flip recent highs/resistance && H4 trend support - Retested recent highs && H4 trend from below and got rejected - Failed to hold 20,000 && H4 100 MA && H4 200 EMA confluence

Clean TA but obviously CZ x Sam situation did not help lmao.

1/

On this move as H4 200 EMA got lost, remaining of my BTC long exposure got stopped out.

A part was from 18,750, rest was from 20,000 compounding last week.

Sam x CZ + CPI/Midterms + H4 200 EMA & 20k lost on BTC are enough for me to not rush on these moves and stay flat.

2/5

Already talked about it Sunday but what I thought was initially just some nice potential weekend short squeeze on FTT escalated in a majors industry scale ego/balance sheet war, and I still rather be an observoor than actooor.

3/5

I've had some very good 2/3 weeks of trading, last week being one of the best since May. This forces me to be extra cautious/protective (maybe a bit of PTSD speaking here yes) right now, even if that means missing potential Dalai Lama PA/opportunities.

4/5

If this is just a market over reaction and dip within this bear market rally... So be it, I'll be a buyer higher again and I will have miss this opportunity/move.

If this is the end of bear market rally, accelerated by Sam x CZ war, then I'm happy to be extra cautious.

5/5

This post is based on this twitter thread.

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