$BTC

Still waiting, patience now, make money later

So last update, we talked about how the event of and the time around the Trump Inauguration would not result in a top, but how it would form a period of chop instead to wear out the traders who think we will go downonly (after 'topping) from here and also wear out the few who still use bullish news events to breakout trade.

Chop idea was and still is in alignment with it being the last week of month 1 of the year, after a big move up (after a move comes a range) from range low to range high thanks to our ever important astro block, and in alignment with the post cycle low period we called one week ago.

So you could interpret this as 'post high impact news chop'. (We've seen the same thing when Biden announced stimi checks at first, the market chopped and only ran later).

But it's easier IMO to just stick to cycle theory and market maker money flow (the trend -> chop -> trend -> chop paradigm).

Eitherway, you know and have known the drill. These times are times to expect chop, not overtrade and not give back those gains we just made during that time.

It's funny because we probably had one of the most eventful crypto-impactful times probably in history, yet 'price didn't do anything'.

So didn't want to make this post at first just to iterate my full plan. But the cynicism on the twitter timeline was rather extensive during that time and still is now. So here just the reminder to not let that mislead you and that this in essecne is all framed around this chop because 'if we have all this news, why doesn't price move?'

People go high on leverage and get sour from paying fees or catching false breakouts were typical in the last week of every first month of each quarter of the year.

The market loves to induce trades and chop them up especially if the news speculation is so high as chop punishes traders more than offering breakouts/breakdowns, especially end of monthw beginning of quarter when most of retail gets their paycheck according to labor statistics, ready to gamble it all away.

No the market is not 'broken', crypto is not dead. It's just a good time to chop.

You know my plan but just to iterate for the ones who are new: still waiting for an ath daily close upon an (expected) $BTC.D push to 60% to load up heavy on alts on the $10k altcoin challenge account.

A pullback to 100k would still be more ideal and I still expect that, in order to buy more alts as well and prior breakout for cheaper (increase leverage from 0.4x acc size to -> 1x ish).

So still waiting, but trigger ready as soon as it happens.

If you trade along, it's a good time to practise patience and not get too hungry for more gains, unless maybe you are (aware that you are) scalping.

We scored 30% account gains on the challenge account last week thanks to the Astro Block all in live time, in public and with full transparency.

So for me, it's all about not giving back those gains.
#BTC