Oh, the sweet, sweet schadenfreude of watching Bitcoin teeter on the edge of a $100,000 cliff. Mihai Jacob, a man who presumably spends his days squinting at charts like they’re Rorschach tests, has some bad news for the crypto faithful. That little bounce after Powell’s speech? Basically a financial burp, not a feast. 🥳→😬
Jacob, our resident doom-whisperer, points out that the $110,000 level was supposed to be Bitcoin’s safety blanket. But instead of a cozy hug, it’s more like a threadbare towel in a hurricane. Powell hinted at a rate cut, and for a hot second, everyone acted like they’d won the lottery. Bitcoin jumped, traders high-fived, and then… crickets. Or, more accurately, the sound of Bitcoin sliding back to $112,000 like a kid who’s been told the ice cream truck is out of Cookie Dough. 🍦→🚫
“Trade what you see, not what you hope for,” Jacob quips, which is basically the financial equivalent of “Don’t date your dreams.” And what he sees? A chart that looks less like a rocket ship and more like a sad, deflating balloon. That bounce? Probably just a “dead cat bounce,” which is Wall Street’s way of saying, “Even a corpse twitches if you drop it from high enough.” 🐱💥
In the grand scheme of things, Bitcoin is still stuck under a trendline that’s been around since April. Jacob spots a potential head-and-shoulders pattern, which sounds like a cozy sweater but is actually a bearish nightmare. It’s like Bitcoin is trying to do the Macarena, but its shoulders just aren’t into it. 💃→🙅♂️
Powell’s “rate cut euphoria”? Jacob calls it what it is: financial confetti in a windstorm. Sure, headlines screamed optimism, but the charts were quietly muttering, “Uh-oh.” The idea that Bitcoin would just waltz back to its support level and give late buyers a second chance? Jacob’s not buying it. “More like a dead cat bounce,” he says, “before the next face-plant.” 😼→🪦
So, where does that leave us? Jacob’s sitting on the fence, neutral as Switzerland, but his eyes are definitely squinting at the bearish horizon. Discipline, he says, is about trusting the charts, not your hopes. And right now, those charts are singing a sad song about a $100,000 plunge. Grab your popcorn, folks-this could get interesting. 🍿🎢
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2025-08-27 18:16