Big boys over at mex having fun, that's for sure.
Algo giving the same signs for 10k right now, as it did for 7500 when we were trading at 5000. It might take some time, but im pretty confident about that 10k figure.
Don't fight it, just dance with it.
Let's review:
first a 5k BTC marketorder on stamp to liquidate all longs, and now this inverse bart like move. Surely lots of revenge shorts in place to be squeezed. However not a lot of participants on Bitmex with OI of just 60k BTC, respectfully $467m.
We won't win them all, but as long as we put our stoploss to breakeven with trades already in profit, then we will make it.
People think you need to win every trade in trading, but you don't. You just need to win every 3rd trade with a RW of 3:1 to be consistently profitable.
Back to the Algo. As long as 7500 holds we'll see new highs, likely 8750 first and then 10000.
If 7500 fails to hold then 6250 is back on the table.
For now, just wait for the 7500 retest and buy it. Clear signal from Algo. Don't buy anything else before the signal is there.
It would just be FOMO buying, which is stupid and dangerous. Sure maybe you are right, and it goes higher right now, but it enforces a bad habit that will ruin you in the long run.
Algo giving the same signs for 10k right now, as it did for 7500 when we were trading at 5000. It might take some time, but im pretty confident about that 10k figure.
Don't fight it, just dance with it.
Let's review:
first a 5k BTC marketorder on stamp to liquidate all longs, and now this inverse bart like move. Surely lots of revenge shorts in place to be squeezed. However not a lot of participants on Bitmex with OI of just 60k BTC, respectfully $467m.
We won't win them all, but as long as we put our stoploss to breakeven with trades already in profit, then we will make it.
People think you need to win every trade in trading, but you don't. You just need to win every 3rd trade with a RW of 3:1 to be consistently profitable.
Back to the Algo. As long as 7500 holds we'll see new highs, likely 8750 first and then 10000.
If 7500 fails to hold then 6250 is back on the table.
For now, just wait for the 7500 retest and buy it. Clear signal from Algo. Don't buy anything else before the signal is there.
It would just be FOMO buying, which is stupid and dangerous. Sure maybe you are right, and it goes higher right now, but it enforces a bad habit that will ruin you in the long run.
