Still max bullish on TAO. Continues to hold above its Feb lows and show relative strength in the market, while many other altcoins are significantly lower. The force is strong with Bittensor. https://t.co/lmZLYIURiB
TAOActivation price $196.4Direction LongType DirectionalTimeframe Mid
Max Favorable +1.9%Max Adverse −0.4%ACTIVE
Metals breaking out, stocks breaking out. This combination has not been kind to crypto so far, so we're either heading into some kind of epic blow off top, or the bottom on Bitcoin is still not in.
But, I've been hearing wave 5 and blow off top a lot over the years, in the past I may even have been party to these suggestions, but it never plays out. So either this time is actually different, or people are getting ahead of themselves, again.
To be fair, including to my own calls, whilst I was looking for lower prices from Nov last year, in Feb I thought a mid-cycle reversal 'could' play out due to the macro setup.
It didn't, egg on my face, but that was six months ago, and I've been favouring the downward trend since, looking strictly for a confirmation of reversal before I call it.
I've still got one eye on the macro though, and I see it still lining up. I see the ISM rising further and I see the breakout on Copper/Gold. If history has a say, then it's the right backdrop.
However, what I don't see is Bitcoin reacting to this setup. Copper/Gold and the ISM broke out six months ago and Bitcoin still has not responded. So it makes sense to focus on price.
The downtrend is still intact, and Bitcoin needs to clear 66.7k 'at least' before any meaningful reversal can occur. Nice potential inverted head and shoulders or maybe cup and handle, but nothing confirmed yet.
Ten months down from the highs, we are almost certainly close, but I'm not putting a date on it and it could run longer than feels comfortable. Bitcoin needs to prove the bottom is in, and that level for me today is 74k, otherwise I still favour the trend.
If Bitcoin continues to do nothing for another couple of months, and macro continues to look good, the setup on the other side will most likely be a full macro wave 3.
The only thing to do is DCA and wait.
BTCActivation price $64,935Direction LongType ConditionalTrigger Break Above 74000Timeframe Mid
PENDING TRIGGER
Metals breaking out, stocks breaking out. This combination has not been kind to crypto so far, so we're either heading into some kind of epic blow off top, or the bottom on Bitcoin is still not in.
But, I've been hearing wave 5 and blow off top a lot over the years, in the past I may even have been party to these suggestions, but it never plays out. So either this time is actually different, or people are getting ahead of themselves, again.
To be fair, including to my own calls, whilst I was looking for lower prices from Nov last year, in Feb I thought a mid-cycle reversal 'could' play out due to the macro setup.
It didn't, egg on my face, but that was six months ago, and I've been favouring the downward trend since, looking strictly for a confirmation of reversal before I call it.
I've still got one eye on the macro though, and I see it still lining up. I see the ISM rising further and I see the breakout on Copper/Gold. If history has a say, then it's the right backdrop.
However, what I don't see is Bitcoin reacting to this setup. Copper/Gold and the ISM broke out six months ago and Bitcoin still has not responded. So it makes sense to focus on price.
The downtrend is still intact, and Bitcoin needs to clear 66.7k 'at least' before any meaningful reversal can occur. Nice potential inverted head and shoulders or maybe cup and handle, but nothing confirmed yet.
Ten months down from the highs, we are almost certainly close, but I'm not putting a date on it and it could run longer than feels comfortable. Bitcoin needs to prove the bottom is in, and that level for me today is 74k, otherwise I still favour the trend.
If Bitcoin continues to do nothing for another couple of months, and macro continues to look good, the setup on the other side will most likely be a full macro wave 3.
The only thing to do is DCA and wait.
BTCActivation price $64,935Direction LongType ConditionalTrigger Break Above 66700Timeframe Mid
PENDING TRIGGER
Metals breaking out, stocks breaking out. This combination has not been kind to crypto so far, so we're either heading into some kind of epic blow off top, or the bottom on Bitcoin is still not in.
But, I've been hearing wave 5 and blow off top a lot over the years, in the past I may even have been party to these suggestions, but it never plays out. So either this time is actually different, or people are getting ahead of themselves, again.
To be fair, including to my own calls, whilst I was looking for lower prices from Nov last year, in Feb I thought a mid-cycle reversal 'could' play out due to the macro setup.
It didn't, egg on my face, but that was six months ago, and I've been favouring the downward trend since, looking strictly for a confirmation of reversal before I call it.
I've still got one eye on the macro though, and I see it still lining up. I see the ISM rising further and I see the breakout on Copper/Gold. If history has a say, then it's the right backdrop.
However, what I don't see is Bitcoin reacting to this setup. Copper/Gold and the ISM broke out six months ago and Bitcoin still has not responded. So it makes sense to focus on price.
The downtrend is still intact, and Bitcoin needs to clear 66.7k 'at least' before any meaningful reversal can occur. Nice potential inverted head and shoulders or maybe cup and handle, but nothing confirmed yet.
Ten months down from the highs, we are almost certainly close, but I'm not putting a date on it and it could run longer than feels comfortable. Bitcoin needs to prove the bottom is in, and that level for me today is 74k, otherwise I still favour the trend and another leg down towards 50k.
If Bitcoin continues to do nothing for another couple of months, and macro continues to look good, the setup on the other side will be a full macro wave 3, not any sort of mid-cycle or late mid-cycle final rally.
The only thing to do is DCA and wait.
BTCActivation price $64,908.97Direction ShortType ConditionalTrigger Hold Below 74000Timeframe Mid
PENDING TRIGGER
Metals breaking out, stocks breaking out. This combination has not been kind to crypto so far, so we're either heading into some kind of epic blow off top, or the bottom on Bitcoin is still not in.
But, I've been hearing wave 5 and blow off top a lot over the years, in the past I may even have been party to these suggestions, but it never plays out. So either this time is actually different, or people are getting ahead of themselves, again.
To be fair, including to my own calls, whilst I was looking for lower prices from Nov last year, in Feb I thought a mid-cycle reversal 'could' play out due to the macro setup.
It didn't, egg on my face, but that was six months ago, and I've been favouring the downward trend since, looking strictly for a confirmation of reversal before I call it.
I've still got one eye on the macro though, and I see it still lining up. I see the ISM rising further and I see the breakout on Copper/Gold. If history has a say, then it's the right backdrop.
However, what I don't see is Bitcoin reacting to this setup. Copper/Gold and the ISM broke out six months ago and Bitcoin still has not responded. So it makes sense to focus on price.
The downtrend is still intact, and Bitcoin needs to clear 66.7k 'at least' before any meaningful reversal can occur. Nice potential inverted head and shoulders or maybe cup and handle, but nothing confirmed yet.
Ten months down from the highs, we are almost certainly close, but I'm not putting a date on it and it could run longer than feels comfortable. Bitcoin needs to prove the bottom is in, and that level for me today is 74k, otherwise I still favour the trend and another leg down towards 50k.
If Bitcoin continues to do nothing for another couple of months, and macro continues to look good, the setup on the other side will be a full macro wave 3, not any sort of mid-cycle or late mid-cycle final rally.
The only thing to do is DCA and wait.
BTCActivation price $64,908.97Direction LongType ConditionalTrigger Break Above 74000Timeframe Mid
PENDING TRIGGER