This was truly an echo bubble on AI agent coins, they went down -95% from their ATH, and on the first signs of life in the market, pumped 3x-5x again in a few weeks before going back to dead mode

Some charts are truly a work of art

This is the log chart of SANDBTC

It's still +120% above it's January 2021 lows

We are seeing the first signs of this phenomenon

I don't think it will last during days but it looks like all the altcoin sellers (=crypto natives) are now exhausted but there are still a lot of (potential!) $BTC sellers.

My guess is we should be close to bottoming here

I like $RESOLV as a long again here :

- Small cap (sub $30M) listed on Binance spot
- High OI/mcap ratio (>1) ie potential short squeeze
- Clean bottoming while the market has made lower lows
- Still a new coin
- Sub $200M FDV looks okay
- Could benefit from the CRCL pump / stablecoin narrative

Gun to my head, bottom's in and it's time to fish for an entry closer to the bottom of the wick, around $100k

I don't think we revisit $98.5k but who knows... we'll need to see how the market reacts at the NYO today

Entered in the top of the box and bounced

If you want to short, short altcoins...

That's particularly true after a bounce

Do you realize that ETFs and BTC treasury companies will keep buying $BTC for months ?

So don't be a pussy

Make sure that you will be long BTC (and not sidelined... or short) when the next leg of this kind happens

Examples of short legs I like :

$TRUMP
$XRP
$SUI
$VIRTUAL
$MOODENG
$IP
$XLM
$WIF
$KAITO
$MOVE
$HBAR
$ONDO
$ADA

I am not saying you SHOULD short, I said that if you wanted to short, targeting alts is better than BTC

I am net long but I always have some shorts open

Each time $BTC goes down -10%, you should remember how quickly it pumps back up

(and pray that we are not in the middle of one of these -20% dumps)

List of all BTC drawdowns since 2023 began, ignoring all drawdowns that were smaller than 10% :

-12%
-23%
-10%
-20%
-22%
-10%
-11%
-21%
-14%
-23%
-26%
-30%
-20%
-11%
-12%
-18%
-32%
-10%
-11%

A -30% dump is an exceptional entry
A -20% dump is usually a great dip to buy
A -10% dump can be a good dip if you have good reasons to think that we should bounce

$BTC price action will look more and more like $SPX price action and there is nothing you can do about this

We are obviously still far away from the end of this 'transition phase'