19.2k-17.5k for max pain capitulation on this downtrend.
good buy zone for spot long-term portfolio ~16k-23.5k taking into account feasible scenarios of could go. Though,16k-17k will put BTC literally down to the wire of max pain, and maybe create a generational bottom.
w/ institutions being more public in their interest w/ BTC I suspect more ranging for a long time ~20k-37k. Mean rev. indicators are printing a good bottom so far today, but not yet confirmed w/ BBWP not crossing over its MA. VZO indicator also printing green. I'd only consider BTC to be out of a bear market until it closes over ~38k on a daily candle, so if you want to be giga-safe I'd wait for there. Breaking out of 32k gives some confidence of an uptrend, but thats only if we continue going up from here. Have some self-control and try not to capitulate.
Fundamental market risk factors are noted here thanks to WifeyAlpha. Only would add that there are a lot of put options expiring this Fri./June 17th on SPY that could squeeze tradFi for part 2 of a bear market rally, so hedge your open shorts. That and monkeypox, which falls under the currency wars.
Trying out 5R trades instead of the safer 2R, I have two of them out JIC the #1 gets stopped out
Trades:
#1
Entry: 21.6k
SL: 18.3K
TP: 39k
#2
Entry: 17.5k
SL:15.2
TP:29k
good buy zone for spot long-term portfolio ~16k-23.5k taking into account feasible scenarios of could go. Though,16k-17k will put BTC literally down to the wire of max pain, and maybe create a generational bottom.
w/ institutions being more public in their interest w/ BTC I suspect more ranging for a long time ~20k-37k. Mean rev. indicators are printing a good bottom so far today, but not yet confirmed w/ BBWP not crossing over its MA. VZO indicator also printing green. I'd only consider BTC to be out of a bear market until it closes over ~38k on a daily candle, so if you want to be giga-safe I'd wait for there. Breaking out of 32k gives some confidence of an uptrend, but thats only if we continue going up from here. Have some self-control and try not to capitulate.
Fundamental market risk factors are noted here thanks to WifeyAlpha. Only would add that there are a lot of put options expiring this Fri./June 17th on SPY that could squeeze tradFi for part 2 of a bear market rally, so hedge your open shorts. That and monkeypox, which falls under the currency wars.
Trying out 5R trades instead of the safer 2R, I have two of them out JIC the #1 gets stopped out
Trades:
#1
Entry: 21.6k
SL: 18.3K
TP: 39k
#2
Entry: 17.5k
SL:15.2
TP:29k
Comment:
Closing the second trade as it'd be catching a falling knife and the area to where BTC might settle ranges too greatly the more I look at it, ~12.5k being the end of the buy zone instead of ~15k noted on the chart.
Comment:
Adjusted TP of trade to 29k, if seller conviction is still high ~24k, I'd close it there
Trade closed manually:
Closing trade #1 at loss ~20k. Aiming to limit in ~17k-18k
Trade active:
Entry: 18.3k
SL: 15.4k
TP: 26k
Expect volatility in the markets.
SL: 15.4k
TP: 26k
Expect volatility in the markets.
Comment:
Entered market long partial position at 20.5k, aiming for 30k
Comment:
Closed market long at 20.8k. I suspect we may go down further
Comment:
Opened market long partial position at 19.1k. aiming for 25k. Order placed on Bitfinex. I think the original idea of hitting 15.9k is unlikely and that we're at the end of wave 5 rather than wave 3.
Comment:
Closed market long at 19.9k.
I still think that 17k is the bottom and that you should DCA as much as one can while it's under 30k, let alone 20k.
I still think that 17k is the bottom and that you should DCA as much as one can while it's under 30k, let alone 20k.
