I am willing to be a bag holder, I do not have debt, so I will not have to service interest if we go into the most anticipated recession ever and rising rates.
That being said, I feel the opportunity here is to the long side.
I seem to be better at picking tops than bottoms, so i just flip the chart and it helps.
sentiment right now is ideal for a bottom, pattern on chart ideal for bottom, and im pretty rekt already sooooooo... pretty ideal bottom.
This is quite frankly a ZERO or HERO story.
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I believe the market maker has some pretty heavy bags right now, i think we need to go up for him to offload on retail, again.
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So far so good. I would like to see more follow through.
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First target is 31k.
2nd target is 47k.
rest rides.
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I changed my mind. i dont want to take profit at 31k. Short sellers need to find coins, and there just are not enough!
hmmm, no Sir,... Fear & Greed SENTIMENT is now at 28, thats faaar tooo "greedy" (albeit in Fear zone), but Fear should be 10! people are too optmistic. Sentimemt is TOO GOOD, not bad. there are just 30% short position on Bitmex...
MikeMM
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@Balabalois, Ill take your word for the 30% shorts, I dont know.
But uhh, i really think youre missing the bigger picture here.
Tradersweekly
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"100% allocated to cryptocurrency right now." that does not seem to be getting wiser. No offense.
MikeMM
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One thing is for sure. I will look like an idiot or a genius, and likely not have to wait very long for an outcome :)
Tradersweekly
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@MikeMM, Good that you allow for both possibilities. Just trade safely.