MASSIVE BITCOIN SELL-OFF. WHERE AM I LOOKING TO GO LONG?
So Bitcoin ploughed through all supports like they were nothing and totally rekt any breakout traders who traded that triangle breakout above 9200.
Anyway, here we are. So what now?
I think we are still at the mercy of global markets and are highly correlated to them. In the short term i think we still head lower into the monthly levels at around 7560 and then ultimately around 7150 ish before we see a substantial bounce and possible reversal into the halving.
I will start scaling into a long in the box area on low leverage for a long term swing into and beyond the halving.
Anyway, here we are. So what now?
I think we are still at the mercy of global markets and are highly correlated to them. In the short term i think we still head lower into the monthly levels at around 7560 and then ultimately around 7150 ish before we see a substantial bounce and possible reversal into the halving.
I will start scaling into a long in the box area on low leverage for a long term swing into and beyond the halving.
Comment:
We are in the box and i am scaling into a long. Very, very risky with the Covid-19 scare but if we're going to go, this is the zone for me. Gently, gently.
Comment:
Wow, that was quick! BTC hit the bottom of my box and where i expect a big bounce. Will we get it. I am now long with SL below 6800
Comment:
Well that was incredible. Nobody could have predicted that capitulation. Insane! Got stopped out and suffered big slippage. Disappointing.
Am going to chill for a while here and wait for the market to show some strength before going long again. Brutal.
Am going to chill for a while here and wait for the market to show some strength before going long again. Brutal.