While Iâd love to see a bullish scenario play out for crypto, the U.S. markets right now look like theyâre on the edge of a potential waterfall move. If that happens, donât expect crypto or other risk assets to be spared. When sentiment shifts, it can go from bad to worse very quickly.
Could it hold? Sure. If it does, no problem. But technically speaking, price is sitting below the major moving averages on both the NAS100 and the S&P 500. Thatâs not exactly a position of strength.
Important Note: I'd be happy to be wrong and my bias invalidated which is if price returns to 26k.
For now, aside from my long-term LP positions, most of what Iâm holding is cash.
Iâve already given back a huge chunk of profits from this cycle. Itâs not easy to admit that, but itâs real and I'm hurting. And as this bear market progresses, things might get tougher before they get better. Still, remember this: markets donât move in straight lines. Even in downtrends, opportunities show up for those who are patient and prepared.
I donât know who needs to hear this, but if youâre hurting right now because of losses, youâre not alone. What matters now is how you respond. Your preparation, your discipline, and your commitment will determine whether you survive and eventually thrive in this industry.
Stay in cash if you need to. Protect your capital. Persevere. Be strong and courageous. And for me personally, that also means staying grounded in faith and seeking God through it all.
Volatility isnât done. Hard times are part of the journey. But if you endure, the habits you built, the systems you refined, the sacrifices you made they wonât be wasted. At the right time, theyâll pay off.
This is the baptism of fire every trader goes through at some point. It reveals what youâre made of -- wood that burns under pressure, or gold that gets refined by it.
Be gold.
Stay safe fam.