Don’t short, don’t short!

1. If last week’s BTC rise was driven by liquidations and ETF inflows, then this coming week may see even more positive catalysts. For example, MicroStrategy—switching from selling to buying?
2. Yesterday (Monday), ETF net inflows did not stop, pushing BTC to the 80,000 level. Other major coins have also been intermittently hitting new highs, without any signs of fading. However, based on the ETF net inflow figures, there has indeed been some reduction. Still, overall, it’s not something to be bearish about.
3. Some people may think BTC has reached a key resistance level, but I believe that after putting together such a big run of bullish candles in the previous week, the current BTC trend is still very healthy. The earlier minor highs (around 82,800) are very likely to be broken. In a bull market, resistance is there for the market makers to punch through.
4. A lot of people are shorting at this level—it’s understandable. But even this 4-hour chart doesn’t show any bearish trend forming. I’d rather stay in cash, or look for a good setup to go long. Shorting is the worst risk-to-reward, and it’s also going against the larger trend.
5. Yesterday the S&P 500 fell, and many large tech stocks fell too. This is easy to understand as hot money rotating—given the overall market picture right now, it’s clear capital has shifted from treasuries/storage to gold and crypto. Previously: stocks down, gold down, crypto down. Now: stocks down, gold steady, crypto steady. If it’s that steady, there’s no reason to short.

Personal trading: Right now, besides holding some gold and silver, I’ve already taken profits and fully cleared the positions in all other account coin types. The only exception is that I’m challenging this account’s new long order on Hype today, because I think since last night BTC broke the recent high and ETH is also pushing higher, and this morning SOL also had a move up—although it hasn’t touched the previous high yet, the overall environment is still bullish. As long as storage isn’t in a downtrend and there’s no big IPO sucking in liquidity, I remain bullish on crypto. In other words, all coins will rotate upward.
$BTC

#BTC触及80000美元