Short Update going to plan.
Updated numbers and anticipated 3 wave corrective drop marked on chart.
113,000 to 35,000 (SHORT)
35,000 to 84,000-85,000 (LONG)
84,000 to 8,000 (SHORT)
For my personal trade I will be closing roughly 80% of short at 40,000-45,000
I will then look for a hold and rise from the 35,000 region to validate that we will see this corrective move. I believe there is a high probability of this - reasons I will detail more as the trade progresses. Chart would be too messy if I included all information on future confluences and pivot points.
If I see this rise occur, I will hold the 20% original short - and hedge with a long as well to 80,000 - 35,000 to 80,000
The reason the market is dropping is once again:
1. The significance of DXY breaking down a major multi month bearish channel
2. The fact that this is a bearish retest on BTC HTF - not a bull market or bull pattern
3. There is a mass amount of liquidity held in open longs in Bitcoin - we need to see a severe deleveraging of these low zones to remain bullish
Happy trading - please see related linked ideas.
Updated numbers and anticipated 3 wave corrective drop marked on chart.
113,000 to 35,000 (SHORT)
35,000 to 84,000-85,000 (LONG)
84,000 to 8,000 (SHORT)
For my personal trade I will be closing roughly 80% of short at 40,000-45,000
I will then look for a hold and rise from the 35,000 region to validate that we will see this corrective move. I believe there is a high probability of this - reasons I will detail more as the trade progresses. Chart would be too messy if I included all information on future confluences and pivot points.
If I see this rise occur, I will hold the 20% original short - and hedge with a long as well to 80,000 - 35,000 to 80,000
The reason the market is dropping is once again:
1. The significance of DXY breaking down a major multi month bearish channel
2. The fact that this is a bearish retest on BTC HTF - not a bull market or bull pattern
3. There is a mass amount of liquidity held in open longs in Bitcoin - we need to see a severe deleveraging of these low zones to remain bullish
Happy trading - please see related linked ideas.
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.