Like I posted in the telegram group, keep your short open :) At this point, the TA is just becoming a self-fulfilling prophecy where everyone (even bulls) want it to retest 8800.
Psychology is a more powerful tool than TA here, as with pattern trading you see that everyone is following the same patterns and responding to them in the same way. This creates a self-fulfilling prophecy where the entire market forces itself to force a pattern or a price action. We saw this back in february and March where TA was useless, but the reversal point was pretty clear.
Closing our 25x shorts should only happen if: we break 9500 and close above it, or we hit 8880. So far, our auto-close at 8900 remains open as well as a long at 8880.
Psychology is a more powerful tool than TA here, as with pattern trading you see that everyone is following the same patterns and responding to them in the same way. This creates a self-fulfilling prophecy where the entire market forces itself to force a pattern or a price action. We saw this back in february and March where TA was useless, but the reversal point was pretty clear.
Closing our 25x shorts should only happen if: we break 9500 and close above it, or we hit 8880. So far, our auto-close at 8900 remains open as well as a long at 8880.
Trade closed: target reached:
On bitmex, it reached 8950. Happy trading :)