This is a pretty reliable day trading product. The Binance Leveraged Token (BLVT) for taking a short position on Bitcoin is slick, in that the leverage varies to maximize gains and minimize losses. Given the variable correlation to BTC price action and volume, since it's not a direct 1:1, the charting of it feels slightly more reliable. I personally would rather trade this than straight up BTC long / short.
As BTC is looking to head upwards of possibly even 42.5K, it might make sense to DCA in. I'm overall bearish on BTC given a weekly H&S top but I like these interim rallies to build short positions with BTCDOWN.
As always, not investment advice, and good luck!
As BTC is looking to head upwards of possibly even 42.5K, it might make sense to DCA in. I'm overall bearish on BTC given a weekly H&S top but I like these interim rallies to build short positions with BTCDOWN.
As always, not investment advice, and good luck!
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BTC cleared trend and fib resistance, going higher which means BTCDOWN going lower to meet buy targets.
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Missed the bottom of the cycle AGAIN! and not by much. Dialing in the process here but watching it perform pretty much as expected is somewhat gratifying, if not profitable.
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inverse H&S here . . took a small position looking for roughly 10%
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Already closed this one. Neckline wasn't holding and got out early.
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These harmonics are SOLID AF!!
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Closed short at 33,375 on BTC :)
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Triangles!! and fakey's
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So the previous chart had me thinking we would get the classic BTC fakeout from what looked to be a bull pennant but the bearish Gartley had way more bearing and I'd overlooked it's significance in Bitcoin trade patterns. Here's an update as Bitcoin has had a bit of a push up and into a price channel. Do we have more upside for Bitty? Kinda looks that way but you be the judge.
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Fakey achieved! I'm a dunsky though and closed my short (couldn't stay awake and don't have bots yet). Looks like we get a pull back from this upside bump, then more up while BTC heads to test the 30k before a rally up to 39k