I'm 5x long on a homerun swing here with tight stops. The amount of selling seen in this past week is cycle-ending IMO. That doesn't mean we can't take advantage of the bounce! Whether up or down, people seem to get locked in a uni-directional mindset. The bounce is here to wipe bears that are making too much easy money and rope in everyone that lost money for a few extra bucks.
This is a high risk trade and not financial advice.
Set a shotgun spread of sells from 2650 up to 3k. Sitting at %183 profit so far and throwing up a safety net for sleeping >.< One thing to note is that this kind of bounce is obvious to everyone. The place where people fall short in their trading is getting to the point of actually believing the recovery is real and tilting the top thinking that they are early.
Bounces are standard and built in to bear and bull markets. Don't let the psychological intentions of a bounce rip you away from your sound analysis :D
Good luck!
marlenri
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i see so your odds are on ETH playing down annd this is just a bounce. interesting. i hope we dont hit $606 though lol
marlenri
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if your on a long call then why does your analysis show a down arrow...
Tessellated
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@marlenri, I'm long for the first wave. Just making it clear that i'm not expecting a bull market recovery here and that there is a playable downwards move after the potential bounce which will likely have the opposite sentiment as the current market.
Bounces are standard and built in to bear and bull markets. Don't let the psychological intentions of a bounce rip you away from your sound analysis :D
Good luck!