Someone DM’d me asking why I don’t post many trades at CMP, only limit orders, and why I’m mainly focused on a BTC short that I’ve been holding since 118k.
I’m guessing many of you have the same question, so here’s my reasoning.
1. We are in a bear market. There’s honestly not much to do right now except wait.
“So if we’re in a bear market, why aren’t you always shorting?”
I am. I’ve been holding a BTC short for the past four months. I warned you countless times that this was the top and not to expect much more upside. Right now, I’m waiting for a much better opportunity, one that I’m best at, buying bottoms.
2. I believe we’re closer to the end of the downside than the beginning.
Most people only understand what’s happening after it has already played out. The same thing happens in bull markets, and it’s happening again now. This bear market didn’t just start. It’s been here for months, as I’ve been saying. The real bear phase began around 99k, which I’ve mentioned many times.
As I said in my last BTC big update, I’m watching 72k as a strong support. That’s where I plan to add spot positions. We need to see a bounce there. If we don’t, then we likely
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