MM84 - Bitcoin MSL Follow Up

Good morning everyone. Today is a follow up to the Market Minute I filmed earlier this week, so let's talk a little more about Bitcoin. This is not financial advice. I am not a CPA and I am not a trading advisor.

When I talked to you a few days ago, I told you I would not be chasing a Bitcoin trade right then, even though it was strong and had recently broken out. We had ghosting sell signals on my confluence tool and mean reversion was over positive 2.95, which is overbought. So I told you what I wanted to see instead: a pullback to retest, and maybe even track along, that breakout area. Remember that old resistance back at 81,000, where we struggled again and again? That was the head and shoulders we talked about last time. We finally broke out above it, and now we are pulling back and testing it.

Here is the part of the chart that matters most to me: we are making our way back down toward neutral mean reversion. This is not a conversation for the person who already owns plenty of Bitcoin. This is for the many of you who told me, I do not have quite enough, I would like more, but how do I know one hundred percent that the bottom is in?

Here is the honest answer. You will never know one hundred percent when the bottom is in. What you can do is use a structure that lets you finesse and maneuver the trade later if your entry is not perfect.