Impressive run by the bulls. A couple days ago we were watching to see if the bulls would lose their higher lows on daily they had been stringing together. Depending on your exchange this did or did not happen. Coinbase lost it by about $50. Binance had a double bottom to the penny, bitfinex lost it by $40, etc. So depending on where stops were placed below those levels determined who remained in and who got stopped out. I personally had 2 stops with one triggering and other staying in position which left me with minimal from my original trade still in play as majority had been scaled out. I am now fully back to cash as of last night and stuck to my game plan from last chart.
We had the situation of watching for the pullback and to see if bears had follow through or if the bulls bought the dip and could give continuation. We saw the 5-6% pullback the other day and bulls pushed price back up again. Very impressive and with yesterdays bullish move up towards $9800, it had me scale out the remainder of my position and am happily back to cash to watch the $10k push.
Weekend also approaching so volatility often can be a bit crazy in a thin market. Will be fun to watch from the sidelines for myself but have no real interest in rebuying anything up at these levels currently. Ideally want to see further consolidation which would be perfectly healthy. Would love to see a re-test of our daily 12 EMA but will see if we get it or if some FOMO starts up today with media coverage pushing the $10k level. In hindsight, sure, would love to have held from the last buy at $8k but can't allow yourself to play the game of what could have been. Profits are profits and locking those up chunk by chunk and minimizing any losses has worked well for my style so no intentions on changing that now.
Just My 2 Sats!
We had the situation of watching for the pullback and to see if bears had follow through or if the bulls bought the dip and could give continuation. We saw the 5-6% pullback the other day and bulls pushed price back up again. Very impressive and with yesterdays bullish move up towards $9800, it had me scale out the remainder of my position and am happily back to cash to watch the $10k push.
Weekend also approaching so volatility often can be a bit crazy in a thin market. Will be fun to watch from the sidelines for myself but have no real interest in rebuying anything up at these levels currently. Ideally want to see further consolidation which would be perfectly healthy. Would love to see a re-test of our daily 12 EMA but will see if we get it or if some FOMO starts up today with media coverage pushing the $10k level. In hindsight, sure, would love to have held from the last buy at $8k but can't allow yourself to play the game of what could have been. Profits are profits and locking those up chunk by chunk and minimizing any losses has worked well for my style so no intentions on changing that now.
Just My 2 Sats!
