#btcperpfundingratehits20monthhigh
#bitcoin
has looked quite strong over the last few days.
I have said several times over the last few months that there is only so much money to go around. And at the minute the attention and therefore the money is in tech)AI. The returns in that sector have been huge so quite rightly that's where people's money has gone.
You can even see that the bitcoin miners have moved their compute power that way as the returns are better.
Eventually though the AI asset class will top or at least stall. When it does that money will flow to other places. That could be gold, it could be other stocks but some will go into
#crypt
.
That hasn't happened yet but I am watching for signs and the last couple of days are a tiny sign.
On the chart, it's only when
breaks above 67k do I think you can start to get bullish.
For now 60-67k is the range to watch. Within that, whilst above 62.2k this is a mini bull flag so I slightly favour a test of 67k first.
TRADES AND POSITIONS:
-your timeframe matters; if you are a holder or at least medium to long term holder, I think anywhere here or below is a good buy (I have a
position)
- but as a trader I still think lower is 50%+ for a final washout. So I am taking some cautious longs but I'm taking quick TPs and not yet holding for big moves.
MY POSITIONS
- I have a small long from 63k and will TP 50% at 67k. I will add to it at 60k and every $5000 below.
- I hold a couple of altcoin longs and a couple short but they are small positions as the volatility is not there.
- most of my capital is in stocks
$IOTA
$KAITO
$BTC
#bitcoin
has looked quite strong over the last few days.
I have said several times over the last few months that there is only so much money to go around. And at the minute the attention and therefore the money is in tech)AI. The returns in that sector have been huge so quite rightly that's where people's money has gone.
You can even see that the bitcoin miners have moved their compute power that way as the returns are better.
Eventually though the AI asset class will top or at least stall. When it does that money will flow to other places. That could be gold, it could be other stocks but some will go into
#crypt
.
That hasn't happened yet but I am watching for signs and the last couple of days are a tiny sign.
On the chart, it's only when
breaks above 67k do I think you can start to get bullish.
For now 60-67k is the range to watch. Within that, whilst above 62.2k this is a mini bull flag so I slightly favour a test of 67k first.
TRADES AND POSITIONS:
-your timeframe matters; if you are a holder or at least medium to long term holder, I think anywhere here or below is a good buy (I have a
position)
- but as a trader I still think lower is 50%+ for a final washout. So I am taking some cautious longs but I'm taking quick TPs and not yet holding for big moves.
MY POSITIONS
- I have a small long from 63k and will TP 50% at 67k. I will add to it at 60k and every $5000 below.
- I hold a couple of altcoin longs and a couple short but they are small positions as the volatility is not there.
- most of my capital is in stocks
$IOTA
$KAITO
$BTC