I expect Bitcoin to crash hard today, and here is a zoomed in look at my potential pathways.
NOTE - See linked related idea on DXY to make sense of this more
Beginning with most likely in my own opinion, to least likely:
Option 1:
114,200 to 35,000 - Short
35,000 to 85,000-86,000 - Long
85,000 to 8,000 - Short
8,000 - Long Entry
Option 2:
114,000-115,000 to 18,000-19,500 - Short
20,000 - Long Entry
Option 3:
114,200 to 43,000 - Short
43,000 to 77,000 - Long
77,000 to 8,000 - Short
8,000 - Long Entry
Strategy:
- Regardless of option I am short Bitcoin
- I will watch for a sudden crash initiate today
- I will first watch for a hold and bounce at 35,000 - closing 75% of my short at 45,000 (I expect wick to be very fast and hard to trade exact numbers)
- If we see a bounce at 35,000 - I will open a hedge long at that level
- Repeat first four steps if we drop below 30,000, looking for the correct bottom and closing short accordingly
- Safest option is low leverage short and spot buys at the bottom levels
Thanks to those who have been following me and supporting my ideas. I know I’m the only one speaking about this.
Happy trading.
NOTE - See linked related idea on DXY to make sense of this more
Beginning with most likely in my own opinion, to least likely:
Option 1:
114,200 to 35,000 - Short
35,000 to 85,000-86,000 - Long
85,000 to 8,000 - Short
8,000 - Long Entry
Option 2:
114,000-115,000 to 18,000-19,500 - Short
20,000 - Long Entry
Option 3:
114,200 to 43,000 - Short
43,000 to 77,000 - Long
77,000 to 8,000 - Short
8,000 - Long Entry
Strategy:
- Regardless of option I am short Bitcoin
- I will watch for a sudden crash initiate today
- I will first watch for a hold and bounce at 35,000 - closing 75% of my short at 45,000 (I expect wick to be very fast and hard to trade exact numbers)
- If we see a bounce at 35,000 - I will open a hedge long at that level
- Repeat first four steps if we drop below 30,000, looking for the correct bottom and closing short accordingly
- Safest option is low leverage short and spot buys at the bottom levels
Thanks to those who have been following me and supporting my ideas. I know I’m the only one speaking about this.
Happy trading.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.