Jonathan James retweeted
$BTC
Range low area reached. I added here at 99k as promised
You know the plan, and you know my conviction. I doubled up my long position size here. Reasons:
✅We reached range low
✅We reached just under the wick
✅We reached just under 100k
And last but not least, we are seeing calls for 80k and 70k thrown around everywhere, literally everywhere. All whilst no one is calling for a bottom, and whilst we are taking liquidity below the wick we have created weeks ago. That's the exact idea of how a range should behave at range low, and to me, peak bottom behavior.
Upon reaching range low, it's time to double up the long, and so that is what I did.
If we make another leg lower, I am out of the trade for a while and I am looking to reevaluate. But for not. I am just following the plan.
$BTC
105k likely will not hold. What to do next? I am planning to make a stubborn move here.
So, we wanted 105k to hold and price to reverse there. I expected the reaction to lead us higher, but this time, I was wrong.
Left the trade some room to breathe but indeed, it is going deeper regardless.
When the idea is wrong like this, there are two options.
The most logical option is: to exit the trade, and let price go for the next area of liquidity, which is the wick at 101k.
But given my conviction that this range will hold and eventually break to the upside;
and knowing that I may have stepped into this long a bit early;
and finally, because I’m simply exhausted by seeing nearly every post met with calls for lower while price only heads slightly lower each time,
I’m going to do something stubborn.
And that is to indeed plan to double up my long position as mentioned last post.
And I will do that, once 101k area is reached, which, if executed successfully, will be a 4% risk of my entire crypto net worth, which is double from what I usually take.
This area of 101k is the lowest most extreme area price is allowed to trade for our range idea to remain valid.
If after doubling up, it fails, then I am truly wrong and I will just take the large risk and take a big loss.
Is this stubborn? Yes. Is it recommended to trade along? Probably not.
But since I called this range ages ago, and since we are still trading inside it, I think I can allow myself to make this move. And I just can't let this one go given our prior analysis, the endless amount of top callers on top, and the excessive caution we see on each and every pullback out there, both in the books as on the socials.
That's not top behavior at all, that's a scared, sidelined audience of participants.
I want to counteract that. And albeit with bigger risk, it's all built on the backbone of this range which we are still trading in.
Hope it works out. Just sharing what I do. Some serious conviction on the table now. Hope that sheds a light on some of your doubts you may have out there of where $BTC leads crypto next.
Jonathan James retweeted
$BTC has 2 massive liquidity clusters on the longer timeframe.
The first one is around the $90,000 level, which also has a CME gap.
The second one is around the $126,000 zone, which is the previous ATH.
Given that the market is looking weak now, a dump to fill the CME gap before reversal could happen.
Jonathan James retweeted
The inexplicable infinite selling on BTC with zero bounce is fucking surreal to watch
Jonathan James retweeted
$107,000 Bitcoin to begin what is historically the most bullish week and month of the year.
HODL on tight... ✊
Jonathan James retweeted
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Jonathan James retweeted
Gold topped out alongside global liquidity.
Exactly the path we need Bitcoin to follow next!
Jonathan James retweeted
The crypto market is sensitive to liquidity.
Just doing QT won't be enough.
Take a look at Q3 2019, when the Fed stopped QT.
Alts dropped 40% more and didn't bottom until the Fed started QE.
This time, it won't be any different.
Until new liquidity enters the market, alts will keep on making new lows.
A few will outperform, but the majority will go down.
Jonathan James retweeted
The 50-week EMA has been supporting Bitcoin since early 2023
Every time price tagged it, sentiment was down in the gutter
And yet every time, it held and provided support for the next leg up
We're heading toward that same level again
Will history repeat itself? Or will it be different this time?
Jonathan James retweeted
🚨 Extreme fear 🚨
Yet Bitcoin is still above $100,000 after
- 400,000 $BTC sell pressure
- the largest liquidation event in history
Extreme fear always ages into extreme regret.
Jonathan James retweeted
Hangzhou, Zhejiang glows in shades of Klein blue.
For twenty fleeting minutes, the city turns into a jewel — quiet, calm, and etheareallly gentle.
@ 鸿摄
