Everyone is overly bullish and thinks printing money is this easy. ETF pump has been priced in. No new major events until halving. Chart is throwing bearish divs on all time frames on lower volume. Look for a retace to that pretty green box down there at around 50k (I expect this occur before halving) Then, when all the kiddos get shook, we start real alt season.
Could be wrong. Who knows?
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Short Opened @ 72.8k
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This is an incredibly high risk trade and I don't usually trade on gut instinct. Way too many divergences and gurus on twitter trying to give you a "Here are my top 10 coins" list to shill the bags they already bought 80% ago. I have no stop loss, ill close as i see fit based on price action
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Closed Half here. Still short from 72.8k. We've just reached target 1 from rising wedge. Rising wedges almost always resolved in a bearish break. Target 2 is near 55-58k which is a golden pocket retrace from our entire move up to 74k. After that, if it holds and we bounce, the market will still remain bullish and we can set bids on all our favorite coins.
Tip: Don't buy into btc for the upcoming run. Alt coins always outperform btc during bull markets. It's always a good idea to have your spot btc but trade alts for profit.
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Closed another half of what was left. (25% of original position) and letting the rest ride
The market remains extremely bullish. This is all just a short term correction which will allow us an excellent opportunity to load up on discounted alt coins.
Lower volume coupled with bearish divergences across timeframes is a red flag not to be ignored. Your call for a retracement seems well-founded
TomShilleck
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I trade future so I find the wicks typically extend past my intended targets and I try to adjust accordingly.
PerfectLONG
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Target 52
bed87
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Where do we buy now woo hoo
TomShilleck
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@bed87 if you're not in a short position I'd say now is a time to start deploying capital in small amounts with the larger orders set about another 20-30% lower on alt coins. The market remains bullish, just in need of a correction before next leg up. Dips are for buying in bull markets