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12 Dec, 4 tweets, 3 min read
A few thoughts on $BTC going into new week + lessons from the past week + how we got here and what to look for next week
1. Deviation above ATH
2. Falls to bottom of local range
3. Breakdown

Below 60.7k was huge flag to go/stay short until reclaim now 53k is key w/ confluence
After the nuke expectations should be chop over trend with a retest of 52k-53k and that's what we got. Why bc that was the key spot on the last breakdown. Instead people lose money thinking every candle is the breakout and buy high sell low or get faked out
Over-trading will lose money after a nuke into chop. So you need a clear plan and trigger. Sweep + reclaim trades into demand.

So what now? BTC needs to reclaim 52-53k. Currently the local lh. There is a ton of resistance there.

Trendline, market structure, 21 weekly MA, as well as 4hr and 1D MA's EMA's

By flipping bull there we reduce downside risk and are still able to compound off the 60k shorts

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More from @Pentosh1

Pentoshi Profile picture
10 Dec
Thread

I think $BTC has been pretty easy to trade the last year. It's followed the same blue print. Given all the same warning signs at highs and lows

It has also given 2 chances to get out every time in a downtrend

60.7k remains key
Examples below + thoughts
RT :)
Each trend has started with a long range break of 30+ days of consolidation inside a range, with a break out deviation that then falls back into the previous range.
The same can be said at the bottoms
Read 7 tweets
Pentoshi Profile picture
10 Dec
Arthur Hayes Bera. Wow echoing the similar *concerns* too of the last month

"For those who are deciding whether to allocate more fiat into crypto, it pays to wait. I don’t see money getting any free-er or easier.
Therefore, it pays to sit on the sidelines until the dust settles after a March 2022 or June 2022 Fed rate hike.
Watch out for a puke fest in risk asset prices should the Fed hike, followed by a quick resumption of zero interest rate policy and aggressive bond purchases. When the Fed signals a return to business as usual, then it’s time to back up the truck.
Read 4 tweets
Pentoshi Profile picture
8 Dec
Scrolling through CB, found a 97m cap on CB sub $1. Lowest I have seen. Bought a small position 150k. Don't know the FA etc. good r/r on normie thinking. *A BET* based on cheap/low mc

A month ago I bought one like that, it did 3x. I sold for like 30% smh

$FOX Image
I feel like someone else has the same or similar idea looking at the volume spike the last 3 hours. Although not a lot of chart history to go off so not really a lot of data. On TA or FA. It's jus an idea based off past experience but it doesn't necessarily translate into future Image
To me that is small cap. Anything from 100-200m I consider micro. Yes itd large compared to Uni coins
Read 4 tweets
Pentoshi Profile picture
25 Nov
Every day I get thousands of messages from world leaders, the U.N, and crypto bro enthusiasts about $MC asking why price only goes up. It’s simple mathematics and few understand the tokenomics ponzinomics.

Essentially it’s all an endless positive feedback loop on price
Merit gets 500k in a seed deal for tokens. Prices only funds see not normies. They hit 1 100x = 50m in buy backs. People see number go up. They stake. Float drops. APY goes up = people buy = people stake

See ILV historical PA (same tokenomics) but improved
Essentially MC acts as an ETF for the metaverse and gives people exposure through their Seed deals + farms that then go into buyjng MC for treasury. Their treasury already larger than Sushi etc
Read 4 tweets
Pentoshi Profile picture
24 Nov
I’ve spoken a lot about the CPI data on Nov 10 and 60.7k level

To continue on that. If savings are at all time lows. And everyone is over-leveraged on debt at ath. While tapering begins with rate hikes. The result is panic. That panic creates a deflationary spiral
Which is needed

Few consider this a possibility yet it’s one of the highest possibility outcomes there is. What if deflation is part of a cycle like all cycles in the universe? I’m still of the belief 2022 will have many months of pain.
Even if you believe that fiat is worthless. You could be wrong. It’s worth having on hand at times like this because it can unfold and has in the past. The roaring 20’s? After deflation. 2007? After deflation when inflation was a hot topic. Short memories
Read 4 tweets
Pentoshi Profile picture
17 Nov
If you've ever played a sport like football, or any sport you know about momentum in games. It's something palpable. Markets to me are the same thing. You feel shifts, you feel something off.

I was bearish on $ETH bc of the weekly doji w/ context of location.
Now you have the doji, but then you also keep touching the dynamic support quicker and quicker with less time in-between = fading momentum. The other times I made red flag posts were here:
I've only ever made 2 red flag posts on here.

Read 5 tweets

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