Finished reviewing the charts. A few thoughts.
A bunch of people out there are calling for a rally near 73K, and now that the golden cross has appeared, they think price is about to take off. I’m not that excited about the chart.
The 3D golden cross has indeed printed, but the two previous golden crosses only appeared after the bottom was already in—not as an immediate signal for price to rally. In 2019, price rose from 3.2K; in 2023, it rose from 15.5K. Both times, there was a period of consolidation in between. Right now, price is still moving around between 70K and 74K, and there’s still liquidity below, around 60K–65K, that hasn’t been fully swept.
Here’s what I’m doing:
I already trimmed some of my position near 80K; I’m not all in cash. My next buy orders are only at 72K, 70K, and 68K, and they’re small. If the weekly candle closes straight through 65K, I’ll admit this call was wrong. I won’t stubbornly hold on.
A lot of people chasing longs at this level are being swept up by that golden-cross video going around. The golden cross is real, but it’s not an entry signal. Wait for a retest and confirmation, or see if price first sweeps a round of short stops below, then reassess.
What are you doing right now?
A. Waiting in cash B. Already buying the dip C. Still short
Be honest in the comments—no judgment.
Follow me for my livestream and SMC lessons every night at 21:00
A bunch of people out there are calling for a rally near 73K, and now that the golden cross has appeared, they think price is about to take off. I’m not that excited about the chart.
The 3D golden cross has indeed printed, but the two previous golden crosses only appeared after the bottom was already in—not as an immediate signal for price to rally. In 2019, price rose from 3.2K; in 2023, it rose from 15.5K. Both times, there was a period of consolidation in between. Right now, price is still moving around between 70K and 74K, and there’s still liquidity below, around 60K–65K, that hasn’t been fully swept.
Here’s what I’m doing:
I already trimmed some of my position near 80K; I’m not all in cash. My next buy orders are only at 72K, 70K, and 68K, and they’re small. If the weekly candle closes straight through 65K, I’ll admit this call was wrong. I won’t stubbornly hold on.
A lot of people chasing longs at this level are being swept up by that golden-cross video going around. The golden cross is real, but it’s not an entry signal. Wait for a retest and confirmation, or see if price first sweeps a round of short stops below, then reassess.
What are you doing right now?
A. Waiting in cash B. Already buying the dip C. Still short
Be honest in the comments—no judgment.
Follow me for my livestream and SMC lessons every night at 21:00
