These last few days Bitcoin has seen very crazy movement, including a stop hunt when we dropped to 6250 only to be bought back up. The ETF's that were denied are now "pending", meaning they could re-evaluate and approve it. However, it will likely be denied a second time.
Therefore, we still short Bitcoin. This is still a downtrend, and bears are the ones with power. If you had shorted Bitcoin when I created my "pump before dump" chart, you would be looking at an entry from 6.7 to 6.6. I believe that we will retest this price level again, and shorting is a good move.
Entry:
6700 with 10% of your position, so we do not lose too much if Bitcoin rallies higher.
Take profit:
5200-5400. (Estimate)
Thanks for viewing. Be careful. These past few days have seen many unexpected pumps and dumps. Having a market stop loss is very dangerous as you could be selling 100+ below the stop price. I believe a smart limit stop is safer.
If you do not know how to manage risk, then stay out for now. Short/long altcoins. Do not touch Bitcoin.
As for the short/long ratio, many are in big chunks, possible that it is a whale. Do not be fooled hoping for a short squeeze although it may be possible. I think we will get a new all time high short/long ratio, possibly another 10-50% increase in btcusdshorts.
Therefore, we still short Bitcoin. This is still a downtrend, and bears are the ones with power. If you had shorted Bitcoin when I created my "pump before dump" chart, you would be looking at an entry from 6.7 to 6.6. I believe that we will retest this price level again, and shorting is a good move.
Entry:
6700 with 10% of your position, so we do not lose too much if Bitcoin rallies higher.
Take profit:
5200-5400. (Estimate)
Thanks for viewing. Be careful. These past few days have seen many unexpected pumps and dumps. Having a market stop loss is very dangerous as you could be selling 100+ below the stop price. I believe a smart limit stop is safer.
If you do not know how to manage risk, then stay out for now. Short/long altcoins. Do not touch Bitcoin.
As for the short/long ratio, many are in big chunks, possible that it is a whale. Do not be fooled hoping for a short squeeze although it may be possible. I think we will get a new all time high short/long ratio, possibly another 10-50% increase in btcusdshorts.
Comment:
Pump to 6.5k as expected. Short this now with small amount. I closed my long 6541 and am short from 6530
Comment:
Thank you Ichimoku! Kijen (low+high/2)
Comment:
Comment:
Just an observation.
Just an observation.
Trade active:
Short targets hit.
