Journal:
13900 is a weekly, monthly, yearly level and most likely for a longer term bullish retest. If price returns to that area I would expect high volatility and a strong reaction from it. Note to self - Buy 13900 and any PA below. Could take 4-12 weeks, but I think we see that level retested and then we break above 20k. A wick to the top of our long term high volume area at 12k is not impossible, but I doubt we will get it. That level would be enough to scare the market and shake out a significant amount of buyers from the past year though. So worth keeping in mind.
This market is significantly bullish though and short positions should always be kept to short term only with hard stops. It is easy to get caught offside in BTC bull runs, learn to take the L and move on. For most it is better to just start DCAing during these times and take advantage of what could likely be the next 1-2 years of a bullish BTC trend.
13900 is a weekly, monthly, yearly level and most likely for a longer term bullish retest. If price returns to that area I would expect high volatility and a strong reaction from it. Note to self - Buy 13900 and any PA below. Could take 4-12 weeks, but I think we see that level retested and then we break above 20k. A wick to the top of our long term high volume area at 12k is not impossible, but I doubt we will get it. That level would be enough to scare the market and shake out a significant amount of buyers from the past year though. So worth keeping in mind.
This market is significantly bullish though and short positions should always be kept to short term only with hard stops. It is easy to get caught offside in BTC bull runs, learn to take the L and move on. For most it is better to just start DCAing during these times and take advantage of what could likely be the next 1-2 years of a bullish BTC trend.