Ive set some asks at various levels between current price(9600) and pink line.
I have made something similar to this last week and am doing so again today but just with an added long scenario instead. Numbers also go up, so I will be prepared.
Having anticipated a pump to 9260s it was a little touch and go for me as we went passed it, had to manage risk well averaging in which is something I will not do again as it just is not worth the emotional rollercoaster ride that ensues. I have added heavily above 9500 on this mornings retest and am currently in good profit. It is tempting to cut this trade now...
Scam pump to 9260s as anticipated in previous chart. Added to short here. Always nervous doing that but I guess its part of the parcel. Consolidation in this area and pump to 9750 not off the table. Break and close above 9800s and I will close position. Short for now.
Lower TF looking heavy closing under some rather large areas of what looked to be distribution. Short term relief expected but I'm not so sure we will see it. I managed to close my previous short and re-entered on a sweet spot approx 9010. I am prepared for a liquidity hunt pump up to 9265. I would look to add to short there. Sentiment seems to be getting bullish...
price tightening around 9151 vwap give or take a few satoshis. I am of the opinion the short is the higher probability trade here although I include another option too - that is simply back to the other side of the range, perhaps liquidity tap around 9700 followed by capitulation. I am in a short for now having closed by long at approx 9250s. Subsequently short...
price tightening around 9151 vwap give or take a few satoshis. I am of the opinion the short is the higher probability trade here although I include another option too - that is simply back to the other side of the range, perhaps liquidity tap around 9700 followed by capitulation. I am in a short for now having closed by long at approx 9250s. Subsequently short...
Closed short perhaps a little too early and opened long from 8830 - have added to it a little further up for average fill price of 8999. Looking for reaction maybe midway from here to weekly open (approx 9350). I suppose higher probability trade now might seem like the short but lets see how this long goes. Will flip in profit if needs be. I am prepared for...
Whether we can move up from here or are going to continue dumping remains a question. However, I am willing to take my chances - closed my short and have now entered a long( second one having earlier been stopped out). I will see how we fair when we get back to mid range or weekly open. Tapping all stops and liquidity above recent highs remains on the table imo...
Closed below weekly open, bias has to be short here with potential for liquidity around the 9700/50 mark. So perhaps expecting a spike into that and continue down. However, any sign that we are simply absorbing the supply from that liquidity without any major rejection I will not be adding to my short and will consider flipping long. Staying neutral on bias for...
Bitmex trending engine was down temporarily but we seemed to have avoided a mega dump. Taking it at face value, plan remains intact. Personally I don't believe in trading on shitbox exchanges that go down like that, even once is is a warning sign for me, never mind a number of times per year. To that end, If you take trading seriously consider www.deribit.com You...
No reason to disagree with or counter trade this as of yet. Trend is your friend. However, keep your enemies close but your friends closer. Remaining long for now.
If Bitcoin can continue to push above 9800, I see it continuing higher above the current range where we might see fomo from a new army of moon boys - if so, I would not be surprised to see a period of distribution at red lines levels. Alternatively, bias changes if we can close below mid range on higher tf. If so, expecting bottom of range and maybe beyond. For...