Market thoughts:
- Pretty easy invalidation for positions now after Jackson Hole yesterday
- Pullbacks are for buying, don't be fearful
- We shouldn't revisit the lows after this news and if we do then it's time to pack it up and go on holiday
- 10% pullback on select alts from here is possible and would be incredible entries. 5% on ETH would be $4.5k
I think we are set up for some insanity now, there's no reason ETH should be below ATH's by the end of next week or 2.
Try not to rotate during this period. Win big by building positions and holding.

Blocking everyone I see on who here is sucking themselves off over ‘telling you’ to buy before this move higher

One of the most difficult things for me to master in trading is that more trading doesn’t mean more money
I struggle a lot to step away from the markets when times get tough and to take the foot of the pedal because ‘what if’ I miss a trade.
I can probably count on my hands the number of days over the last 5 years that I haven’t entered a position
This is one of the biggest aspects of trading I need to improve on

Jackson Hole thoughts:
I think regardless of what happens today there will be a reversal to the upside at least for a range high play back to high $4k’s on eth (all eyes on eth as seen in its relative strength against BTC).
Even if Powell is hawkish today, we already sold off into the event as people are expecting him to have a hawkish tone. I don’t think anyone here is expecting him to talk dovishly.
Keep in mind the market bottoms on negative news and tops on good news.
People are waiting for the event to be over to re-enter the market as the uncertainty passes.
I don’t believe he will ge

The only thing I plan on doing with $YZY is shorting it to zero

Many signals began firing off for me that we will have a significant pullback. Hence why I decided to take most off the exchanges and into cold storage + bank
Today has been the first time I clicked the red button in many months. Not here to be a hero, I still don't like to short and feel uncomfortable doing so but the market has shifted.
- Big SFP
- highest google search for 'crypto' since 2021. 4-5 prior search spikes all coincided with 20-30% pullback
- Market not reacting to Sharplink buys of $650m worth of ETH
- Market slicing back down through price easily with little to no fight from bu

One of the biggest mistakes people on CT make is the idea that it's a horrible idea to put profits into your bank account.
It's either you put your profits into a bank account or you leave it on crypto and expose yourself to many counterparty risks. Inflation obviously erodes your buying power, but realistically you won't be holding your cash in the bank longer term as an investor. The main idea is that it gives you security and secures your future.
Don't listen to these people. Take your profits off of the exchange and put them in a bank.
Save, accumulate, reinvest elsewhere.

99% of the 'cult' leaders of this cycle will not be around in the near future. They will go down with the ship because of their unwavering belief in their own bags.
Zero profit taking, max bull posting.

The market feels like it’s shifting.
Multi bil in liquidations and all it did was stall downside momentum for a day.
The big August 12th $ETH candle has completely retraced
Big rejection off the 124k level for BTC
Honestly, today could be the day where I take the rest off the exchange (big portion to BTC cold storage and the rest to the bank) and restart with $100k on and $100k on as per my plan

In the next 12 hours I’d like to make a video answering some crypto related questions..
I’m by no means a master of the market… I’m just a student like everybody else, but think it could be fun
If you’ve got anything you’d like to ask, feel free to leave a comment and I can answer a bunch

I’m also very cognisant of the fact that people are starting to talk about a potential ‘SFP market cycle top’
… Even from some of the guys I have on notifs and respect as traders
I’m open to this idea, but before immediately calling for a cycle top it’s important to let price action dictate our beliefs. I think it’s a bit premature to call for a cycle top based on the last 2 days

In also very cognisant of the fact that people are starting to talk about a potential ‘SFP market cycle top’
… Even from some of the guys I have on notifs and respect as traders
I’m open to this idea, but before immediately calling for a cycle top it’s important to let price action dictate our beliefs. I think it’s a bit premature to call for a cycle top based on the last 2 days

I still believe it’s unintelligent to be totally sidelined right now. We all know how fast sentiment changes after such a move
The fact is we had the largest liquidation of the year. These are mass FORCED transfers of wealth.
For myself, during the dip I added to my $PENGU position. I really think it will do well, possibly even flipping PEPE in the near future
With whatever you decide to buy/add it’s important to show patience in moments like these where after such a big liquidation event things are still pessimistic and fearful

I knew me buying a random $5000 vintage 1950s table clock was the top 😭

After these big liquidation events it’s completely normal to have a day or 2 where things feel eerily quiet.
You feel unsure about your positions and still feeling fear
Build your positions slowly. Over days.
The fact is we are in a bull market, and these sorts of massive liquidation days often signify high value areas
Don’t second guess yourself here