I'm usually a Bitcoin Bull. I hope that my main Bearish these is invalidated.
Today, at NYSE market close, I sold a considerable (for me) BTC position. I like to buy, hold and trade Alts for BTC but it's recently been off-putting to me.
Analysis: Price action: Note all the red arrows and interaction with MA (Moving Average) Lines. Note the green colored text box w/ Bullish move with MA90, that had a small signal higher low.
Bear: Today, this period, same red arrows, but consecutive lower lows. Worse, I take the MA 200 more serious for a risk management standpoint, and hence trimmed exposure.
Bull: Invalidation -- indicated by a text box. I'll rebuy an increment or two, but will look to ETH and key Defi Alts for better movement.
Realism: 1. Frankly, BTC has provided me little confidence (even fully accounting for its speculative nature) and has not preformed as a hedge or store of safety in any meaningful way. *** so, I suppose BTC price will go up - since it appears so grim to me. 2. Bear (hold cold stores only) or Bull (adding to BTC positions) I anticipate BTC will be a smaller % of my portfolio (almost 5 years now) with any major move (as I trim profits or trim exposure), as I look to inflation hedging strategies in tangibles (metals and agriculture) and energy.
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