Technical analysis by hungry_hippo about Symbol BTC: Sell recommendation (10/10/2025)

Daily MFI barely moved down, and that bottom trendline doesn't seem to offer much support if this afternoon's action is any indication. It'll be a while before MFI hits bottom. Disclaimer: I bought IBIT puts today, when I saw that MFI hadn't dropped.Given what happened today, I can guarantee that cryptos will sell off if the US ever gets into a war with Russia or China. It's fun to play the movement, but this shouldn't be a long term investment. China is destined to start a war eventually. Hopefully not in my lifetime.Also, cryptos all appears to be breaking the rule of not selling during the weekend. That does not bode well for the future. WHo wants to spend all weekend watching your investment drop?Closed out my puts when I closed my GLD position after lunch. Made a few bucks on this, but made my real money on gold. I also realized that it bounced off the bottom channel line over the weekend which means it's not gonna tank. There could be a double bottom though because daily MFI isn't close to being oversold yet.BTW, just so I don't sound too bearish on crypto, I'm probably gonna go long on ETH when daily MFI hits oversold on BTC. Probably gonna be next week or later though.