A bull run mass liquidation is not detrimental to the long term mass adaption for BTC; but currently has steered us off path for the 100K EOY target ( Calculated from StocktoFlow Models). We saw billions of leveraged dollars get taken by the market and now were on the track to recovery. My current trade on BTC has yet to come to fruition as our fake out did not reach my fill price around 53K USD. Currently I'm watching for 2 possibilities which will be outlined below
Current trading idea for BTC:
1. Yellow ( Short/Long )
- BTC has yet to test the bottom channel of the previous dump wick; as depicted in the chart I am watching for a final fake out up to 53K Range where I would then short BTC back to test the bottom channel of the wick.
- Then After retesting the lows I would be looking for an entry to long
2. Orange ( Long )
- If we continue to fall and retest the bottom channel of the previous wick then our hypothetical short position would be out the window; where we will then find ourself's planning our long entry
*This is not financial advice, Everything depicted above is just hypothetical*
Current trading idea for BTC:
1. Yellow ( Short/Long )
- BTC has yet to test the bottom channel of the previous dump wick; as depicted in the chart I am watching for a final fake out up to 53K Range where I would then short BTC back to test the bottom channel of the wick.
- Then After retesting the lows I would be looking for an entry to long
2. Orange ( Long )
- If we continue to fall and retest the bottom channel of the previous wick then our hypothetical short position would be out the window; where we will then find ourself's planning our long entry
*This is not financial advice, Everything depicted above is just hypothetical*