GM

$BTC within a hair of $100k

$SOL with in a hair of $259.90 ATH

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Same crypto tradeooors who said they’re done trading until the cycle top now saying one more trade, 12 hours ago

— Shorting $BTC on the off chance it rejects $100k and goes down hard

Ofc would be a very short-term play because only a matter of time until $BTC blasts through $100k

Does everyone want $100k so bad that the markets will punish everyone for their overconfidence?

Personally — no idea here

BUT, indeed $BTC has been pressed right against $100k, and $SOL right against $ATH since this morning,

And both have failed to break through yet

Monitoring

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Weekly reminder:

Beware the elevated risk in max-longing just BELOW the previous ATH

Doing so has rekt many

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Richard Heart max-longed $ETH just UNDER its previous ATH,

instead of waiting for ETH to actually surpass its past ATH

— absolutely wrecked em

Many others do this too though,

Typically because they correctly went short near a previous top, right before the coin had a huge drop,

but then held that short position all the way until it was nearly back break-even to where they went short,

but they want to lock in a win on their short position before it goes negative, and so they flip to max long, just short where they went short at, just below the past ATH,

— but then boom, new ATH rejected, and it crashes hard.

Totally rekt.

Never flip max long just short of previous ATH.

Tons of people do it.

Very bad idea.

If you hadn’t already gone max long far before ATH, then best to wait until new ATH is confirmed, not flipping long just before new ATH.

The extra tiny bit of gains isn’t worth the huge risk. New ATHs get rejected all the time, just look at the historical charts.

Much lowered risk after new ATH is confirmed.

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There will be signs

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Banana duct-taped to a wall has just sold for $6.2 MILLION in NY

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Beware the elevated risks of max-longing just BELOW the previous ATH, or just below special numbers like $100k

Max-longing here feels much safer than at other places, but history shows quite the opposite

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