Forbes 11/15/2023: Bankrupt FTX Wants To Sell $100 Million Of Crypto Per Week.
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11/16/23 Bitcoin update: BTC 1 week chart printed a sell signal today.
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11/16/23 Bitcoin trade idea: short 37,500 stop 38,000 profit 29,700 1-5x leverage maximum for swing trade BTC shorts 10-30x leverage for scalping BTC shorts
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According to Forbes analysis FTX is sitting on about $2.6 billion of solana and bitcoin and another $1.7 billion in other cryptos. In September the company received judicial approval to start liquidating recovered crypto and it has transferred $100+ million worth of solana to major exchanges such as Binance, Coinbase and Kraken; that kind of transaction is often a sign that a crypto owner is preparing to sell.
according to your last update: I am also scalping for a few days, hope I will scalp it to Target with many points. For me it's too overbought, I would not be long in this area. good idea, keep us posted. take care
Options360
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@Divergencify I've got a 16 time frame setup. 1m, 2m, 4m, 8m, 15m, 30m, 1hr, 2hr, 4hr, 8hr, 12hr, 1D, 3D, 1W, 2W, 1M. So scalping is easy.
Options360
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@Divergencify My friend who only HODL since 16k Thanksgiving 2020 cracks me up. He held through 60k spring 2021 back down to 30k back up 69k then dca down all 2022. Ended up with 30k average. Now he's finally break even again after 3 years HODL. lol
Unless you got Bitcoin for 200-900 in 2015-2017 or at the 2020 covid collapse for 4k, the rest is just the greater fool theory of speculative investors along with technical traders moving the price. In any event, whatever Bitcoin does it will go up and down like it always does.
A very important point is that 34,500 is exactly half of 69,000. So we are at a crucial reflection point in Bitcoin price discovery history right now.
Divergencify
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he married his position, not the best method of trading. thanks for answering.
Options360
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@Divergencify there's only 3 possibilities up, down, or sideways. Trading is the highest probability of these 3 possibilities at any given time and/or price. It's not that complicated. But yeah, he got romantic about his position. lol