I've said before that I'm not completely bullish until BTC confirms $52.5k. A confirmation is a rise above the price, pullback to the price, and another move up. Anything other than that leaves the probability of a bull trap.
The hilarious thing about a bull trap is that the more people it catches, the harder it dumps. That means if we go up to $50k and it's a bull trap, the chart might nuke below $29k down into the low $20ks or even the teens. Easily. Although the dollar is total crap, it is strengthening in the short term with gold and silver both tanking today.
We won't get into the TA around this, but just know that the permabulls could be leading you into a trap. The Bitboys, the Moons, the Martini Guys — these guys will kill your portfolio if you're a trader. If you're investing for 5 years or whatever, this doesn't apply to you. If you're trying to make your crypto make your crypto, you should pay attention to this kind of stuff.
You don't have to sell everything now, but you shouldn't have to take 90% losses because you're listening to permabulls, either. Please understand these big crypto channels got big from accepting sponsorships from projects. Bitboy or Elliotrades pumping single projects for an hour means nothing.
If we get to BTC$50k, I will be selling a good bit of my crypto into stablecoins. Then I wait. If we catch $52.5k and hold, then I buy back in. If we fall, I have plenty of stablecoins to buy what will likely be a substantial dip.
I will never sell all of my crypto, and I think it's a good idea to hold onto a bag of bitcoin that doesn't get touched for any reason. But I'm not going to let these godforsaken shillers knock me out of profitability because they're getting crypto under the table. The price of freedom is constant vigilance.
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