Looks like price is spiking to perfectly meet the point of the rising wedge and horizontal resistance. The ATH weekly finished on a Gravestone Doji so it would be fitting to break down out of highs on Halloween.
Final Target Entry $68,800
Initial Short TP $57k (10%)
- As planned, new long will act as hedge while the short is activated - laddered in to $63,800. The market can switch narrative on a dime so if $64k breaks this could pump hard so a short term hedge is best for me in these circumstances.
- TP timeframe is Wednesday. In-between now and then is unclear but expecting a small period for ALTs to run on Sunday and breakdown on Monday.
The most interesting part of the play is not the entry but the structure at the Target Price - right into the previously broken descending resistance! Psychologically this will be a bullish signal for many but it is but a trap. A monster to them but really an artist.
Just an Idea
.
Best, Hard Forky
Final Target Entry $68,800
Initial Short TP $57k (10%)
- As planned, new long will act as hedge while the short is activated - laddered in to $63,800. The market can switch narrative on a dime so if $64k breaks this could pump hard so a short term hedge is best for me in these circumstances.
- TP timeframe is Wednesday. In-between now and then is unclear but expecting a small period for ALTs to run on Sunday and breakdown on Monday.
The most interesting part of the play is not the entry but the structure at the Target Price - right into the previously broken descending resistance! Psychologically this will be a bullish signal for many but it is but a trap. A monster to them but really an artist.
Just an Idea
.
Best, Hard Forky
Nota
Got there in the end - Short
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.