BlowOffTopic
BlowOffTopic 3 minutes reading from Bitcoin

Price Analysis: BTC, P2P Bitcoin Mining Website, Mt. Gox, ICK, FAT

🧵MARKET THREAD: Besides all the CEX bs. I advise everyone to keep their head clear. Cathie Wood's ARK ETF pumped about +25% from the bottom. We are at the anger / depression phase and I see signs of disbelief in the stock market.

NDQ SPX BTC ETH crypto

For crypto we are already in the depression phase. FTX is marked as a late capitulation as most capitulated during LUNA season. You could look at the cheat sheet and argue there's still a lower low to be made, sure. But I find that a rather risky bet.

A normal market structure would be to create a double bottom. ARK could do it and crypto looks like its forming the first leg of its W.

We are -75% from the top for the whole market and even though we can drop lower, there's time to sell and time to buy. For me, its the latter

Sure, we have a LOT of headwind: macro, inflation, energy, FTX, hacks and whatnot. But I came into this market with a plan:

- SELL EUPHORIA - BUY PANIC

Simple as. I did so many times this bull cycle:

SELL - April 14, 2021: BTC 64K (sold alts start of May) BUY - July 2021: BTC 35K SELL - Mid November 2021: BTC 64K BUY DCA 1 - Mid June lows: BTC 18K (bought alts) BUY DCA 2 - NOW

This can all be found on my tradingview:

Trader cryptobullethbtcxlm — Trading Ideas & Charts

More importantly is, in my opinion, that you pick up the right projects that have a solid growth perspective for the next 2 - 5 years.

That's why I started 10x Club, a crypto research and analytics newsletter. Yesterday I posted my full portfolio 👇

10x Club - Crypto Investment Research & Analytics | Substack
This post is based on this twitter thread.

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