new entry
2024-12-28
Category: None

I believe we will bottom around 85-90k.

Short term price action is bearish. I believe there is a very high probability of a new low.

I have positioned accordingly (reduced long exposure and have set bids).

BTC going up is more than just low rates. It is the idea of btc in a hyper inflationary environment, the next gold narrative, long term store of value, etc. The mind virus of btc is something that creates infinite buying. I don't believe we are close to a market top, but if we do not bottom around 85-90k, that would be something unusual and I would reevaluate my long term thesis.

Side note: HYPE is a better risk adjusted long relative to btc or any other major. I am selling assets to buy HYPE.