Here we are, back to the prior momentum trend line, strongly above the golden fib. Will BTC be rejected at the next fib, or will we just blow on past 50k.
-Bullish Thesis: Election year, btc etf, spx going to 5600 (obnoxious).
-Bearish Thesis: BTC has never not had a harsh correction right before the halving in its history. We are WAY up from the lows. Institutions are likely to want a better entry than 47-8k.
I remain in the bear trap thesis but am not currently trading it. My strategy right now is to accumulate as much cash as possible as I am already heavily exposed to all markets. If BTC flashes up to 52k, I plan on shorting mara and coin in small positions. If it confirms above I will lay out my profit taking strategy for each holding.
-Bullish Thesis: Election year, btc etf, spx going to 5600 (obnoxious).
-Bearish Thesis: BTC has never not had a harsh correction right before the halving in its history. We are WAY up from the lows. Institutions are likely to want a better entry than 47-8k.
I remain in the bear trap thesis but am not currently trading it. My strategy right now is to accumulate as much cash as possible as I am already heavily exposed to all markets. If BTC flashes up to 52k, I plan on shorting mara and coin in small positions. If it confirms above I will lay out my profit taking strategy for each holding.