Mayooo

🇺🇸 US unemployment rate came in at 4.4% vs 4.3% expected.
The labor market is still weak.

Something interesting: since the Middle East war began, Bitcoin is up about 15% against gold.
In periods of geopolitical conflict, you would normally expect gold to outperform Bitcoin because it’s traditionally seen as a safe-haven asset. But this time, the opposite is happening.
That reversal is really interesting and potentially quite bullish for Bitcoin.

Hey there, my friend! Is that you again?

Green day for both stocks and crypto, fueled by rumors that Iran and the U.S. are in talks about ending the war.
However, the attacks are still ongoing, and I don’t expect everything to suddenly stop tomorrow. Ships are still unable to pass through the Strait of Hormuz, which is already causing significant and potentially lasting damage.
Crypto remains in a bear market. If you think we’ll be back at $100K next month, you’re most likely mistaken.
I still expect to see $60,000 before we see $80,000, and that’s the scenario I’m positioning for.

$BTC is trading around the $68,000 level.
I remain bearish and expect a downside breakout soon.
It could happen this week.
For now, I’m focused on short positions.

Make sure you guys don’t over trade. Most people lose money in this choppy price action

$BTC is choppy. They want to shake you out before the next big move and in my opinion, that move will be down.
Don’t overtrade. Be patient and execute your trades using a plan with proper SLs, etc.
The breakout will likely come this week.
They’ll try some fake pumps to make you FOMO into a long.
In my opinion, that’s not a good idea.

In my view, the recent upward move was primarily a short squeeze.
A large portion of traders were positioned short due to prevailing tensions.
However, when a trade setup appears too obvious, it’s important to remain cautious.
Markets often move in the opposite direction first to invalidate consensus positioning before continuing in the anticipated direction.
Shorts were squeezed, traders shifted to long positions, and that shift in positioning can create the conditions for a subsequent move lower.

I expect that it’s just a matter of time before we see the next leg down for $BTC
We’re getting close to it.

Looks like a Bart Simpson pattern is forming on $BTC.