On Tuesday August 12, 2025 BTC (Bitcoin) had a closing price of $120,113.18 which was greater than our line in the sand placed at a closing price greater than $119,975. Therefore, the prior sell signal has been rendered to be void.
But like a professional fighter rising at number 7 of the ref’s 8 count, the legs still look wobbly, with everything else looking shaky and vulnerable.
And that would be a generous description of the market action which has followed in the few days since August 12th.
The official whipsaw appeared to be related to an announcement of an official plan to acquire as much BTC as possible. But which was then very quickly followed by clarification that such acquisitions would NOT be coming from any new official buying, but rather, only from official confiscation. That detail was much less supportive, and some might say, even potentially quite detrimental, by injecting a greater possibility of additional risk, and thereby adding to FUD (Fear Uncertainty and Doubt).
All of the same risks described in my previous few posts still abound, so this is no time to become complacent.
In the event that a valid sell signal is again triggered, I will post it promptly.
In the meanwhile, keep the bigger long term picture squarely in mind, that BTC remains the world’s apex asset to which available liquidity should continue to flow.
While the economic chaos on the horizon may depress the price of BTC in the near term, its relative underlying value will most likely continue to gather stealthy strength which will continue to emerge from time-to-time, over the fullness of time.
Therefore, it would still appear to be a very wise strategy, with at least the majority of one’s holdings of BTC, to continue to HODL.
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BTC Sell Signal Voided . . . Barely was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
