Jellee1

$BTC tried to reclaim the previous cycle highs, but couldn't hold it for more than a few days.
Bears remain in the driver seat.
Taking it slow, patiently waiting for those sweet entries we're looking for.

$BTC started the week with a strong CME gap, sitting at $70,000.
The market will likely want to fill that before heading lower.
Over the past years, almost every gap has been filled sooner than later.

$BTC took out the highs and started correcting again, pushing towards the next available liquidity below the trendline marked in white.
Bulls really want to step in to defend here - if we start taking that liquidity theres quite a bit of fuel to cascade lower.

GM 🤝
$BTC Broke down from the rising wedge over the weekend.
Not a great way to start the week if you're a bull. Consolidate here for a day or two and those untapped lows look ripe for the taking.

Both $BTC and $ES still moving as expected, slowly moving lower towards my areas of interest.
Current exposure & plans to add more detailed in the chart.
Signing off for the week, see you guys on Monday.
Happy weekend!

When $BTC's weekly RSI makes a higher low again, it's time to pay attention.
Doesn't matter if BTC makes a higher low, equal low, or lower low.
When RSI starts moving higher again, the bottom is very close - or already in.
Patiently waiting for the signal to flash again. 🚨

Previous bear markets all lasted around a year.
$BTC topped just 23 weeks ago, and looks like this.
I'm not in a rush to buy back in.

$BTC is coming back to retest the $70k area from below.
Decision time - fail to reclaim it here and bears are back in control of the market.
Liquidity to the downside; waiting eagerly to be taken out.

In typical bear market fashion, $BTC's SOPR is flashing red for quite some time.
This means more coins are moving at a loss than at a profit.
The big spikes down generally mark a bottom.
Paying close attention to this metric 👀

Bear markets take their time to unfold.
Looks like this time will be no different; high-timeframe support is being turned into resistance.
$BTC

Uncertainty from the Middle East is starting to hit tradfi markets, with metals and stocks selling off.
When panic starts hitting those markets, that's when I'll be looking to buy more.
Shame the entire world needs to be up in flames for that to happen - but it is what it is.

Rejecting from the weekly resistance cluster as expected.
Patiently waiting for the market to give me the entries I want, or to be proven wrong.
Both outcomes are fine by me. 👍🏼
$BTC

The previous FOMC events all triggered sizable selloffs for $BTC, and it looks like this time is no different.
👀

Do or die for the $BTC bulls.
Confirm this area as support and the case for further relief becomes stronger.
Back below the grey box; and the bears are back in the drivers' seat completely.

I know many of you are waiting for me to drop the new traffic light chart - and it's going to take a bit longer.
For now though; this is what my plan to scale back into the market looks like.
Two areas of interest based on price; and watching the RSI for signs that the market is bottoming earlier than I thought.
DCA starts either in those boxes, or when $BTC locks in a strong higher low on the RSI - whichever comes first.
Rest of the setup will come once the time is right.
Patience!

Stock market $ES lost the local support and turned it into resistance.
Slowly but surely rolling over.
I continue monthly DCA, with a big chunk of capital waiting to load up between 10-20% off from ATHs.
Opportunity awaits.