$ZEC currently battling to hold the 1.618 extension from the previous range after rejecting the 2.618. I still think we could see 3 figure zcash again. https://t.co/JmoY6nDIya
One thing I've learnt trading on chain over the years is that attention moves incredibly quickly. I've watched entire narratives go from being completely ignored to dominating everyone's timeline in a matter of days. One week it's memecoins, the next it's AI, DeFi or something completely different. And one of the biggest mistakes traders make is becoming too attached to whatever worked last week instead of recognising that the market has already moved on. It's why I spend so much time following volume, momentum and emerging narratives. I've also been using the Trending section on @phantom mobile as another way to see what people are paying attention to across the market. But here's the important part. Just because something is trending doesn't mean it's worth trading. Understanding WHY attention is moving somewhere matters far more than simply following the crowd. As always, not financial advice, please do your own research, if you're keen to check the platform / app out my ref link is below.
This is one of the lowest periods of Bitcoin Volatility in years. Patience and discipline during times like this. Why does the market feel like trash?! Volatility is low, which means volume is low, liquidity is low, sentiment is low and therefore... opportunity is low. https://t.co/bXhaSptLtS
A lot of failed breakouts across crypto tokens and stocks, $COIN particularly pushing towards new lows in this 'bear market'. A sign that lower in the markets is to come in Crypto? Bulls would want to see a sweep and reclaim. https://t.co/4r83naXAbr
Something I've been thinking about recently is how much the speculative investment landscape has changed. For years, crypto was arguably one of the most obvious destinations for people seeking enormous returns and willing to accept enormous risk. But now we're competing for that capital with AI, technology, emerging industries and a whole range of other speculative opportunities. At the same time, inflation remains a concern, interest rates are influencing financial conditions and people are becoming increasingly selective about where they allocate capital. This is why I think the days of assuming every cryptocurrency will eventually pump simply because Bitcoin goes up are becoming less reliable. Liquidity matters, opportunity cost matters and having a genuine reason for investors to buy your asset matters. Crypto isn't disappearing, but the competition for capital is getting much more interesting.
I'm seeing a lot of people suddenly calling for $60K Bitcoin again, which I find pretty interesting considering the broader market structure hasn't decisively broken down. For me, the $75K region remains an important area to monitor. We could absolutely wick below it, liquidate some positions and reclaim the level without necessarily destroying the broader bullish thesis. I've been watching the longer-term moving averages and anchored VWAP structures, which offer additional areas to assess demand (low to mid 70k region). The bigger question isn't whether Bitcoin can trade lower... of course it can, but rather it's whether a move lower actually changes the underlying structure or simply creates another deviation that catches everyone leaning in the same direction. I have a plan for both outcomes, but I'm not interested in predicting $60K just because everyone is suddenly scared again.
I said this the other day and I want to back it up again... I genuinely think 90% of people trading memecoins right now would be better off doing absolutely nothing. That doesn't mean there's no money to be made, because there always will be opportunities for people who are actively trading the trenches. But liquidity has been deteriorating, momentum is disappearing and the number of genuinely attractive opportunities has fallen dramatically. I've still clicked a few buttons myself over the past couple of months and given back money that I probably shouldn't have. But that's trading, you don't always get it right and the biggest lesson I'm taking away is that you don't need to participate in every market environment. I'll happily return when liquidity, volume and momentum improve, but until then I'd rather preserve my capital for better opportunities. Sometimes less really is more.
I'm spending today catching up with friends, enjoying the weekend and probably spending very little time looking at charts. We've just experienced an enormous event in crypto, Bitcoin is approaching an important monthly close and the US midterms are coming up next week. There's plenty to monitor, but that doesn't mean I need to sit in front of a screen all weekend. I've got my levels, I've got my invalidations and I've got a plan for what I'll do if the market moves in either direction. If something happens, I'll react accordingly. But after spending years trading these markets, one of the biggest lessons I've learned is that being glued to the charts doesn't necessarily make you a better trader. Sometimes stepping away and letting the market develop is the most productive thing you can do. Enjoy your weekend legends.
I'm still bullish on Bitcoin and I genuinely don't see a compelling reason to change that bias just yet. We've just experienced one of the largest security breaches in financial history, yet Bitcoin hasn't completely collapsed and the broader macro structure I'm watching remains largely intact. That doesn't mean we're going straight back up and it certainly doesn't mean we can't trade lower. What matters to me now is how we close the month, how the next weekly candles develop and whether buyers continue to defend important levels. I'm not ruling out another bear market low, but that's still my least probable scenario right now. Trading is a game of probabilities, not certainty. If the evidence changes, so will my analysis. For now, I'm still a bull.