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djoffrey
Jun 16, 2021 5:18 AM

BTC | We need a little more power to cross the creek Short

Bitcoin / Tether USDHTX

Description

After the long upper shadow, we retrace below the creek (40450-40550).

Now, hold the short position, wait for a 0.382-0.5 retracement.

Trade closed: target reached

50% target reached.

Free choice to close or hold.
Comments
ClearOpenDoor
Remember the little up-thrust at the bottom a few days ago that I made fun of because it got sold right back down? But then after that price wedged upward and upward... well I am reminded a bit of that again here. Yes, it was a bad rejection at 41k. But the bulls haven't given up yet. Ltf bull flag and they keep trying to push upward. I don't know if this actually does go down from here. I am leaning bullish again. Maybe I will get burned for my choice? There is just much uncertainty right now.
djoffrey
@ClearOpenDoor, Can't say... But the uncertainty is increasing, I agree with you in this.
djoffrey
@ClearOpenDoor, Seems that I am right again... Good luck bud
ClearOpenDoor
@djoffrey, Yes I was overly bullish and not thinking clearly. Missed the perfect opportunity to short at 40.5k. All is a learning experience.

Well done! I'll bet you are enjoying those profits right about now :)
djoffrey
@ClearOpenDoor, I had just closed the short pos, and plan to create some long pos.
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