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degen chad 🎩🤫Ⓜ️
@degen-chad
I know it’s hard to fathom given the state of the alt market, but this $BTC chart doesn’t even look bearish. It’s about 13% down from ATH and basically still in the same range it has been for the last 12 weeks. Could it just go straight back up from here, sure. Could it still go lower and still be macro bullish? Yes. How low could it go? I put some green limes here as potential targets that make sense. Just under 80k at the 200 day moving average, or back to the top of the previous resistance area around 73k. Wherever it stops, I think we’ll be looking at some incredible entries in high quality alts. If you have dry powder, don’t fire it all in one clip. Many alts will recover and go beyond previous all time highs, a large number will likely not recover at all. So even if you aren’t injecting new capital, now is not a bad time to rebalance some of your questionable bags into high conviction ones. Don’t fall victim to “sunk cost fallacy”
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Nicklas
@mr-silverback
Bitcoin is doing its own thing. It has sovereigns and banks and IRAs backstopping it. Chart the average alt coin.... People who decided to stick around in POPCAT got hit hard and its never going higher imo
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degen chad 🎩🤫Ⓜ️
@degen-chad
Yeah, I get it. That’s why BTC is always my largest bag. But regardless of it doing its own thing, it still dictates the greater crypto market. As they say, when BTC catches a cold, ALTs catch AIDS. What I’m saying, is to use BTC as a signal for entry into alts, and don’t go into shitty alts
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Nicklas
@mr-silverback
for sure. im wondering what happens if we see a cascade in btc here short term. We dont get do see what everyone is holding. This was a sharp downturn in ETH...could cause forced sells imo 75k BTC would be scary in a 2 day move
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degen chad 🎩🤫Ⓜ️
@degen-chad
Alts would get massacred, but there would be some generational entries
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