JanHenk Bouman

80% of the way there then a pretty decent relief rally Stay prepared g

$TAO | Buy levels Yesterday, Bittensor hit an important s/r level, which also aligns with the 0.382 & 0.5 fib levels. TAO is undoubtedly one of the strongest coins, and many are just waiting for a good buying opportunity, so whether we'll see significantly lower prices again remains to be seen. Of course, that mainly depends on the overall market. However, in the coming weeks, in connection with the US election, we can expect some volatility, and if altcoins go down again, then the next levels are pretty clear for TAO (see chart). 360-ish has the strongest confluence and is a golden buy zone (30% drop from here).

I did think a break of 71k would be bullish- as I assumed that we would not break those highs until we saw our next impulse to the upside to ignite the rally to 100k. Instead, we broke the highs in a corrective manner, with record high levered longs within our range and with spot fading the move. Context is important. I've said more times than I can count- impulsive PA is what we get with sustained moves to the upside, period. Perp driven moves, combined with corrective movements up, are not impulsive, simple. I even discussed the idea of a fakeout above the highs in my interview shared last week. You break range highs with impulsive PA and healthy, spot driven buyers driving the move? Get bullish af. You break the range highs without impulsive PA, and a massive ramp in levered longs on already record high OI for the range AND with spot selling off? Be cautious. I wish it was as simple as "break X level" and we are bullish. The reality of trading is that there are fakeouts/deviations, and when you see data that suggests a specific move may be prone to that you acknowledge it. So it's usually not "break X level and we are bullish" it's "break X level in Y context and we are bullish as long as Z level is held". Most people here don't actually trade however, so I am not surprised that this nuance is lost on them. At the end of the day if you are bullish here I've made it very simply- long retests of 65-69k. I've also said I'm not interested in doing that atm because of what I am seeing on my end lol. No one is forcing you to do anything- if you don't agree with me that's fine 🤷‍♂️

Hey folks, some stuff with family going on at the moment. Will be back as soon as I can. No change to general ideas shared recently though.

. ⚠️VERY IMPORTANT⚠️ Trying to help! Always free content trying to help 🙏 My analyses are done on Weekly, Monthly & even 2M. These can take weeks or months to develop! Remember in 2021 when we were at 65k & I said 20K was inevitable?(20k took 11 months to unfold). Remember when I mentioned the market correction was coming & all alts were going to sink 40-60%? That was almost 3 months ago! Yesterday 7W flipped bearish for the first time since February 2023. Last time it flipped bearish was in April 2021 when we reached ATH. 🙏PLEASE REMEMBER🙏: Whatever you do, just bear in mind that pumps are for exit, because the crypto market downtrend began when $BTC Monthly flipped bearish on June 1st 2024! There won’t be 100k! Ignore the halving event! What there will be is a bear market starting end of Q4 or earlier and $BTC will reach 20K and lower in 2025. Whatever bullish news & tweets you see out there, please don’t ignore what I am saying! Buy yours bags with the intention to sell, because this catabolic cycle will be cruel in 2025. .

. $BTC 52k-47k is no longer the final target before reversal! All high TFs remain super bearish. 44k-38k is where I have my eyes for September! I’d like to see a pump to 58k-60k or higher before more downside (if comes)! But pumps are for dumps until September .