In light of a recent mass liquidation we currently find ourselves in a beautiful opportunity to DCA our existing spot positions, or create positions in coins you have minimal to no exposure in. Asides from loading up our bags; we are currently watching BTC's descend to the bottom channel of the liq wick. As depicted in my previous posts, we currently have a short trade strategy on BTC that has yet to come to fruition. We are currently watching the 2 possibilities outlined in that post; BTC will be our only current short position, the remainder of our strategies will be focused on entering longs for the recovery run. One of those potential entry's being on Polkadot ( DOT )
Trade:
- We are currently waiting for BTC to find bottom, until BTC bottoms we will not be entering into any long trades as there is no reason to force trades when BTC is in a downtrend.
- Once BTC finds bottom in the 44K range we will then begin to plan our long entries
- Currently we are looking for DOT at the bottom of the demand zone depicted in the chart above, until BTC finds bottom we are unsure on how low DOT may also retest so we will be waiting for BTC to signal a reversal; where we
will then find ourselves finalizing our entries
*Not Financial Advice
Trade:
- We are currently waiting for BTC to find bottom, until BTC bottoms we will not be entering into any long trades as there is no reason to force trades when BTC is in a downtrend.
- Once BTC finds bottom in the 44K range we will then begin to plan our long entries
- Currently we are looking for DOT at the bottom of the demand zone depicted in the chart above, until BTC finds bottom we are unsure on how low DOT may also retest so we will be waiting for BTC to signal a reversal; where we
will then find ourselves finalizing our entries
*Not Financial Advice