This recent 7 day cycle resembles the last correction and recovery from last month. We operate at much greater scale now than then, with more volatility, but if their pattern rebuilds (2 down waves, one recovery period leading to next breakout, we have a few scenarios to plan for:
1. we retrace the 50% - 63% channel above (assuming an ATH around 19K, inching our way up, as did the last recovery over 1 day plus, increasing 6.48% to a target at 18.4K
2. we retrace lower, to 16.2K, 5+% below the channel in (1)
3. we go fuck-all, in a free-for-all shootout, and drive outside the triangle, smashing the resistance 300 points north (unlikely, no one will pile on below 17.7K
So to manage these contingencies, you might want to tranche so to:
1. buy a dip at 16.2K
2. go long overnight, with limit sales at 18.4K
3. just HODL and something nice will transpire
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation
1. we retrace the 50% - 63% channel above (assuming an ATH around 19K, inching our way up, as did the last recovery over 1 day plus, increasing 6.48% to a target at 18.4K
2. we retrace lower, to 16.2K, 5+% below the channel in (1)
3. we go fuck-all, in a free-for-all shootout, and drive outside the triangle, smashing the resistance 300 points north (unlikely, no one will pile on below 17.7K
So to manage these contingencies, you might want to tranche so to:
1. buy a dip at 16.2K
2. go long overnight, with limit sales at 18.4K
3. just HODL and something nice will transpire
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation