BITCOIN: WAKE UP NOW
Jordan says Bitcoin is in a bottoming process and a chop-to-the-downside zone matching prior cycle bottoms. He is about 43% entered and continues DCA through year-end with dry powder for lower. He allows a flexible four-year low that could front-run the common October consensus, with the higher-low pullback either already near 61k to 62k or possibly into the high 50s or low 60ks. Breakout path he watches is toward the 200-day near 70k. Patience remains the stance.
- “As we can stand right now, Bitcoin is doing kind of exactly what I expected it to do while it was on vacation, which is kind of be in a chop zone where we sort of chop slowly to the downside.
- “I'm about 43% entered into the market at the current moment, which I'm very happy with, and I still have plenty of dry powder to buy lower.
- “Everyone's going to kind of be expecting Bitcoin to make one final low in October, okay, because of the four-year cycle. And I totally agree with that. Um, in a sense, and that's why I'm not going all in.