Opinion:
Without much else other than my gut-feeling and a wish to enjoy my weekend without the need of babysitting a position. I am now exiting 50% of my longs. (After a 20% exit earlier in the week.)
To put it in smart sounding fashion.
BTC has stagnated at the sellers control zone. Given there is no change to macro leverage procurement (Rates are too high for people to be legacy borrowing to buy tokens on spot markets), I feel like a short attack over the low liquidity weekend would make a lot of sense. Most people are currently on-exchange leveraged, a lot are very significantly leveraged (We are witnessing 20%+ in a single day for some medium-quality alts).
Please bear in mind, I am only exiting longs with the hopes of re-entering at 20151 and lower!
I do not think the 17600 bottom will be broken anytime soon in a consistent fashion. All in all I am still glass-half-full and looking to the upside. I just have no wish to get short shark attacked over the weekend.
“We now understand how little we understand about inflation”
-Powell ECB Forum on Central Banking, 29th of June 2022
Notes on how I personally use my charts/NFA:
Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's and L's these percentages are still respected. I like to use the trading range to accumulate by using this tactic.
Just my personal way of using this. This is not intended or made to constitute any financial advice.
This is not intended or made to constitute any financial advice.
FED Macro Situation Consideration:
All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over.
NOT INVESTMENT ADVICE
I am not a financial advisor.
The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.
Without much else other than my gut-feeling and a wish to enjoy my weekend without the need of babysitting a position. I am now exiting 50% of my longs. (After a 20% exit earlier in the week.)
To put it in smart sounding fashion.
BTC has stagnated at the sellers control zone. Given there is no change to macro leverage procurement (Rates are too high for people to be legacy borrowing to buy tokens on spot markets), I feel like a short attack over the low liquidity weekend would make a lot of sense. Most people are currently on-exchange leveraged, a lot are very significantly leveraged (We are witnessing 20%+ in a single day for some medium-quality alts).
Please bear in mind, I am only exiting longs with the hopes of re-entering at 20151 and lower!
I do not think the 17600 bottom will be broken anytime soon in a consistent fashion. All in all I am still glass-half-full and looking to the upside. I just have no wish to get short shark attacked over the weekend.
“We now understand how little we understand about inflation”
-Powell ECB Forum on Central Banking, 29th of June 2022
Notes on how I personally use my charts/NFA:
Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's and L's these percentages are still respected. I like to use the trading range to accumulate by using this tactic.
Just my personal way of using this. This is not intended or made to constitute any financial advice.
This is not intended or made to constitute any financial advice.
FED Macro Situation Consideration:
All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over.
NOT INVESTMENT ADVICE
I am not a financial advisor.
The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.