Hamza

I’m adding to my $BTC longs here at $76K. As I’ve repeatedly mentioned over the last month, the $70Ks were always the likely area for the next higher low to develop. The plan was to add on a pullback into that range. If you wanted to buy Bitcoin lower, what did you expect the chart to look like when it got there? We’ve now corrected roughly 13% from the local high and returned to the prior range. I’m not going to spend a month identifying an area where I want to buy, then let a few red candles scare me out of buying it. Could we go another 5–10% lower? Absolutely. I’m fully prepared for that. What I’m not prepared to do is make my participation in the next cycle depend on getting every entry right. I’m positioning for the upside I see over the next 12–18 months, and I don’t need to catch the exact bottom to do that. If Bitcoin trades at $180K over the next few years, I doubt I’ll be complaining that I bought at $76K rather than a few thousand dollars lower. When positioning for a cycle, your job as a trader is to build a position on major pullbacks and give it time to develop. Catching the exact low would be nice, but it isn’t a requirement. I believe we’re approaching the point where the $70Ks won’t be available again.