BTC bull flag?
It could be a giant bull flag forming, but other than that there's not much to analyze. A 15k-wide descending range. Wanna trade? Buy low (50k-55k), sell high (67k-70k). Just, you know, don't blow up before the 2025 bull run.
This was written at the end of July when we were trading above 69k:
We didn’t quite go to 71k yet as I expected (~70k), and touched 53k which is waaaay lower than I anticipated, but also now quite the dirt chip zone (<48k) where I would be comfortable buying a lot. So long as we’re above 63-64k I prefer just holding. I don’t mind tolerating some temporary losses for a few months. I still consider attempting to exit near the local top to be the ultimate foolish move and a recipe to FOMO in later at a worse price.
——
WELL
I didn’t post this for a reason: the setup was so unconvincing that I couldn’t persuade myself it’s a solid piece of advice not to sell the top. I ignored the gut feeling - even though I have some record of selling high and buying back lower, overall the performance of my portfolio would be much better if I never sold anything ever, and just held. Unless we’re toughing 300k right now, I do not allow myself to do any speculative trades.
This was written at the end of July when we were trading above 69k:
We didn’t quite go to 71k yet as I expected (~70k), and touched 53k which is waaaay lower than I anticipated, but also now quite the dirt chip zone (<48k) where I would be comfortable buying a lot. So long as we’re above 63-64k I prefer just holding. I don’t mind tolerating some temporary losses for a few months. I still consider attempting to exit near the local top to be the ultimate foolish move and a recipe to FOMO in later at a worse price.
——
WELL
I didn’t post this for a reason: the setup was so unconvincing that I couldn’t persuade myself it’s a solid piece of advice not to sell the top. I ignored the gut feeling - even though I have some record of selling high and buying back lower, overall the performance of my portfolio would be much better if I never sold anything ever, and just held. Unless we’re toughing 300k right now, I do not allow myself to do any speculative trades.
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