TRX

No changes, still short.

https://www.tradingview.com/x/7ymvxNxG/

TRX update

Good reaction from resistance. Bearish flag broken.

https://www.tradingview.com/x/29ekGwBD/

SPX

https://www.tradingview.com/x/OFxmF9Mv/

BNB update. Still swing short. NFA.

https://www.tradingview.com/x/QgfAdpwu/

SOL

Back to $3

https://www.tradingview.com/x/XWK9i21j/

TRX/BTC

Supporting the idea of the swing short for TRX/USD

https://www.tradingview.com/x/cpCR6aoD/

MATIC

https://www.tradingview.com/x/o9FommMl/

ADA

https://www.tradingview.com/x/PBfQToaA/

TRX update

Still short on this one (along with BNB, AAVE and SOL). Current avg. entry 0.0605

Remember that my shorts positions are with very low leverage. They are positions based on a very high timeframe, with wide invalidations and wide targets.

Not financial advice.

HD chart: https://www.tradingview.com/x/urbF8dDl/

I see many people talking about altseason... Reality is that the big majority of altcoins are not making new local highs compared to BTC and they are at major resistance. This shows weakness. BTC pairs are in a very strong downtrend as well.

OTHERS chart (altcoins marketcap) is looking bearish as well, and the next support is way lower.

I remain short BNB, TRX, AAVE and SOL, and maybe I will add MATIC and FTM to the shorts bag. The shorts are 30% of my portfolio, the other 70% is USD.

HD chart for OTHERS: https://www.tradingview.com/x/IRfXeMUr/

BNB update

Adding more to my short position, which is the biggest one. Current avg. entry: $302


HD chart: https://www.tradingview.com/x/13Rj0NNg/

Fundamental reasons:

-Binance holds 70-80% of the BNB supply. If they have problems, which is likely they will (CFTC lawsuit was only the beginning), they will have to sell BNB. This is very similar to what happened with FTT.

-Price strongly manipulated. The strong bull run it had in early 2021 was mostly caused by BUSD twapping buys. Sam did exactly the same with FTT, but he did it publicly. CZ only did it publicly with the 1B BUSD fund. Now they can't mint any more new BUSD (NY regulator prohibited Paxos from minting more BUSD)

Technical reasons:

-Clear distribution above the dark zone (check chart). Whales are unloading (maybe Binance?). Confirmation with a clean break below this support, which has been testesd several times already.

-Corrective pattern formed from the 2022's low.

-Similitudes with the FTT chart. They are literally the same, but BNB has extended in time.

The distribution range is +2years long, so the expansion of the range could take it very very low.

Market update

Altcoins are breaking key supports and 0-B/0-X trendlines, or about to do it. Some others are already making new lows. This confirms that the move from December's low was corrective.

Expecting a strong sell-off soon, where altcoins could dump 60-80% and BTC to the main target of 12k.

Stay safe.

No updates = no changes

Bias remains bearish and I'm still out of the market (70% of my portfolio) and shorting some altcoins with very low leverage (30% of my portfolio), expecting new lows. The market is just waiting for the bigs news in order to move.

Alerts and orders are set. Everything is ready. Enjoying life in the meantime.

Good weekend to everyone!

The entire market looks about to crash.

Adding MATIC to my shorts

HD chart: https://www.tradingview.com/x/xUqrGNUW/

Important:

I have no affiliation with a token that has been launched using my name. Do not risk your money on such scams that could end in a rugpull. Do not give your money away to individuals without ethical or moral values.


Stay safe.

In a world with such a diversity of opinions and options it's hard to maintain objectivity and rationality. This is especially true on CT, where many opposing interests mix, such as people trying to make money by shilling any project without any fundamental value or even worse, creating memecoins to later dump on their followers as some are doing recently. That's why it's important to distance oneself from the noise and keep a clear head. This way you'll realize that the bear market hasn't ended yet and this rally has likely already come to its end, with memecoins marking the local top before a massive move to the downside.

If instead of focusing on individual movements in a specific period and with specific coins, you zoom out and focus on the global situation, looking at causes and not just effects, you will see that:

-This move up from the lows that has been completely manipulated by entities that have printed BUSD, USDC (and now also TUSD) out of nothing, with the sole purpose of trapping the bulls and distributing higher, knowing of the inevitable end.

-The movement from the bottom of December 2022 is a correction. This movement is also called an internal retracement, bear market rally, wave B/X, bull trap... Some may disagree that this is not a bull trap. However, if ideal conditions are created for the majority of investors to buy and emotionally engage with their bags, while creating bullish sentiment with high expectations, then if prices make new lows this is clearly a bull trap. In fact, this would be the biggest of them all.

-The only purpose of this movement is to turn everyone bullish (they won't achieve it with me), to be able to sell at higher prices and have exit liquidity again.

-Many altcoins have already retraced a large part of this run. Some others are already below the 2022 low. Others are at major supports or retesting these as resistance.


In my opinion we are about to witness a massive capitulation event. Both technical and fundamental reasons are there. The main target for BTC remains $12k (wicks below are not ruled out, but the high time frame close should be around that level). ETH would reach $500-700. Altcoins would drop 60-80% on average, some even more (like BNB as I explained in a previous post).

Therefore, the most logical thing is to stay out of the market, while building short positions (very low leverage since these are mid-term positions) in altcoins that can drop more than the average, and also ignoring any noise that could distract you from the main plan, a plan which is based on knowledge, experience, and rationality. Apply discipline and patience while enjoying life as one should always do.

"All good things come to those who wait."

Friendly reminder.

The token that has been created with my name has no relation to me. His creator is using my fame and impact to dump on his followers and profit, while constantly lying to them.

Stay away from such scams and scammers, because you will end up losing your money.

Adding more to the MATIC short. Avg. entry = $0.96

Same target.

Current positioning:

65% USD

35% mid-term short positions (BNB, TRX, AAVE, SOL, MATIC)