Bitcoin prices have been consolidating since December '25 (around 60 days) after multiple failed attempts to continue the uptrend (as indicated by the purple Xs on the chart).
Even though I remain bullish on the asset in the long term, I decided to close all my cryptocurrency positions today and allocate 100% in dollars. From a technical perspective, a double-top pattern has started to form, which is a bearish signal, and I’d rather not risk waiting to see if it gets confirmed or if the asset simply continues moving sideways.
I prefer to watch this consolidation from the sidelines and accept the risk of buying back at a slightly higher price only after a breakout—if it happens. If it doesn’t, closing my positions will have been a successful protective move.
I also acknowledge the formation of a flag pattern near the upper resistance of the range, but again, if it confirms and breaks out, I will re-enter. For now, I’m choosing the more cautious path and prioritizing capital protection.
Part of this position was bought recently, around 100k, speculating on potential euphoria after reaching that price level. Another portion was acquired around 60k in September '24.
Even though I remain bullish on the asset in the long term, I decided to close all my cryptocurrency positions today and allocate 100% in dollars. From a technical perspective, a double-top pattern has started to form, which is a bearish signal, and I’d rather not risk waiting to see if it gets confirmed or if the asset simply continues moving sideways.
I prefer to watch this consolidation from the sidelines and accept the risk of buying back at a slightly higher price only after a breakout—if it happens. If it doesn’t, closing my positions will have been a successful protective move.
I also acknowledge the formation of a flag pattern near the upper resistance of the range, but again, if it confirms and breaks out, I will re-enter. For now, I’m choosing the more cautious path and prioritizing capital protection.
Part of this position was bought recently, around 100k, speculating on potential euphoria after reaching that price level. Another portion was acquired around 60k in September '24.
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Market monitoring:Exiting positions proved to be a prudent move, that allowed to avoid today's period of high volatility. Most crypto assets pulled back to the 200-period moving average. However, there was a strong rebound from the drop, and most price charts formed long hammer candles. This clearly shows that many players are still willing to buy cryptos at more attractive price levels. It was an extremely bullish signal, but given the market’s recent streak of failed buying signals, I plan to approach this possible opportunity with caution, and wait for more bullish moves that reiterate this one.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.