$BTC , that trade from early this morning hit its stop-loss.
I own it.
In the piece I wrote at 01:14, I said to go long on a pullback to 73200–73800, with a stop-loss at 71900 and targets at 75442 / 76400.
BTC just slid all the way to 71255, straight through the stop price.
It’s hovering around 71445 now. By the rules, this trade is stopped out. There’s nothing to argue about.
The trigger was Nvidia.
Jensen Huang resigned. The board just confirmed it, after Bloomberg reported it first. CFO Colette Kress is stepping in on an interim basis.
NVDA initially fell 8% after hours. NVDA perpetuals on Binance dropped 8.8%, and perpetuals on Hyperliquid were down as much as 12%, with $2 billion in volume in a single day.
The U.S. stock market had closed, so there was no one to catch the fall. Crypto took the hit first.
BTC then broke through 73200 and 73000, sliding all the way to 71255.
ETH fared even worse, briefly falling below 2000 intraday. It’s at 2002 now, grinding right around 2000.
I own this trade.
I treated the 73200 area as support and went long, but it turned out to be as flimsy as paper.
A mistake is a mistake. No excuses.
Looking lower, if 71900 breaks, the short-term bullish thesis is invalidated.
The next meaningful level is around 65000. That doesn’t mean we’ll get there tomorrow; it’s just that there’s not much else to hold on to if we go lower.
If you want to buy the dip, wait for things to stabilize first. Reaching in now is like catching a falling knife.
2000 is a critical level for ETH. If it breaks, don’t stubbornly hold on.
That’s it for tonight. I won’t call a direction before tomorrow’s PPI.
Personal analysis, not investment advice.
#Nvidia
I own it.
In the piece I wrote at 01:14, I said to go long on a pullback to 73200–73800, with a stop-loss at 71900 and targets at 75442 / 76400.
BTC just slid all the way to 71255, straight through the stop price.
It’s hovering around 71445 now. By the rules, this trade is stopped out. There’s nothing to argue about.
The trigger was Nvidia.
Jensen Huang resigned. The board just confirmed it, after Bloomberg reported it first. CFO Colette Kress is stepping in on an interim basis.
NVDA initially fell 8% after hours. NVDA perpetuals on Binance dropped 8.8%, and perpetuals on Hyperliquid were down as much as 12%, with $2 billion in volume in a single day.
The U.S. stock market had closed, so there was no one to catch the fall. Crypto took the hit first.
BTC then broke through 73200 and 73000, sliding all the way to 71255.
ETH fared even worse, briefly falling below 2000 intraday. It’s at 2002 now, grinding right around 2000.
I own this trade.
I treated the 73200 area as support and went long, but it turned out to be as flimsy as paper.
A mistake is a mistake. No excuses.
Looking lower, if 71900 breaks, the short-term bullish thesis is invalidated.
The next meaningful level is around 65000. That doesn’t mean we’ll get there tomorrow; it’s just that there’s not much else to hold on to if we go lower.
If you want to buy the dip, wait for things to stabilize first. Reaching in now is like catching a falling knife.
2000 is a critical level for ETH. If it breaks, don’t stubbornly hold on.
That’s it for tonight. I won’t call a direction before tomorrow’s PPI.
Personal analysis, not investment advice.
#Nvidia
