BTC Profit Hedging
Bitcoin has had an absolutely epic, face ripper rally over the last year and it may be time a look for a pullback in price as buying opportunities present themselves.
Today I have been considering the BITI Short BTC ETF which could give us an amazing hedge if BTC sees a sharp decline. Now I do believe we reached a maximum pump at $50k, and I dont quite see the probability of Bitcoin moving higher just yet.
Historically, we tend to see corrections moving into the halving cycle for April. But after that I would expect Bitcoin to officially start the next bull run.
So if you would like to stack some more Bitcoin in your portfolio, this can be a good opportunity to triple your holding if we pull back to $30k or lower.
I like the RSI showing us extremely oversold for quite a while, and its only now starting to tick up. Additionally, we are still below the range point of control which sits at $13.40. Anything above this price point I would expect buyers to hold their profits until the higher targets I have marked above.
My plan, I am going to buy this ETF if Bitcoin sees a pop back up to $50k. Otherwise, it does seem like a great technical entry regardless.
Good Luck!
Today I have been considering the BITI Short BTC ETF which could give us an amazing hedge if BTC sees a sharp decline. Now I do believe we reached a maximum pump at $50k, and I dont quite see the probability of Bitcoin moving higher just yet.
Historically, we tend to see corrections moving into the halving cycle for April. But after that I would expect Bitcoin to officially start the next bull run.
So if you would like to stack some more Bitcoin in your portfolio, this can be a good opportunity to triple your holding if we pull back to $30k or lower.
I like the RSI showing us extremely oversold for quite a while, and its only now starting to tick up. Additionally, we are still below the range point of control which sits at $13.40. Anything above this price point I would expect buyers to hold their profits until the higher targets I have marked above.
My plan, I am going to buy this ETF if Bitcoin sees a pop back up to $50k. Otherwise, it does seem like a great technical entry regardless.
Good Luck!
Trade active:
Going to be buying some more here and building a position at $10.50 and averaging in.
Comment:
Added to my position at $8