The spot buys I mentioned around $72K was pretty good timing and we broke out of main resistance at 71-72K for 2 months, now hopefully more consolidation up here before next move up. Unfortunately Iran closed strait again and oil spiked hard and most risk assets retraced a bit from the local top. The last few months with all the Iran x US headlines been very tiresome but hopefully they come to an actually agreement soon. There was some good opps onchain as well last few days ($asteroid rip + other things) but I don’t really do onchain but will send stuff if I see like this.
The one thing I wanna pay attention to more and go balls long on is any dips on STRC, I mentioned last week and how it works. Their buys were at a crazy volume last week, and the risk is way lower vs doing something in defi with small yield, but huge smart contract risk — aka AAVE this past week. The volume itself in STRC is so good for us, as ponzi as it might seem. Imo it just is more of a reason to supress downside in BTC and make it less prominent. On top of that no new war news or headlines is making us actually dump, so where would new sellers come from even with all the fud tweets(?) while the buyers are Saylor/STRC consistently, and I imagine it will just keep growing.
My main invalidation for the current move up & the spot buys I posted would be losing $70K on the weekly timeframe. Still HTF resistance is at $80-82K.
Would be careful going into the weekend with leverage positions, esp if ceasefire breaks again, lot of things could go wrong. Can’t wait for all the headlines to be over
FarzadI know we launched at bad time in the market, it’s just been headline after headline after headline but IMO if you’re flat or stabled given the recent strength and Iran and US signaling towards genuine ceasefire & end of war it’s not a bad idea if you want…
I’ve TP’d some of the buys I did here for around +7% move on BTC spot, not bad for a 1 week move🫡
TRUMP ON IRAN: NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE.
TRUMP ON IRAN: PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF POINTS ARE ALREADY NEGOTIATED
