Could be wrong here but things are lining up to look like a decent uptrend but I am still bearish most markets and neutral BTC. This is a position building trade for me but can be converted into a pretty good trade for anyone. Levels are there. Additional entries are there as well as good TP. If sideways can always play then back and forth. Please note I am hedging this trade using multiple instruments to mitigate some of the risk. I am long term bullish but still in a bearish mindset due to the global economic situation. That being said bear markets are not all sideways and down. BTC is an inflation hedge and inflation is getting out of control fast. Biden keeps spending and the FED keeps hiking interest rates nothing good can come of it. People could seek out BTC as a safe haven driving price up. If not I will have a great position for the coming cycle and bull run. I might use 3x leverage but only to preserve capital for other things. Can always add to margin and remove the leverage if needed.
Not your financial advisor and this is just a basic idea for a trade. #DYOR and don't trade more then you can afford to lose. I am using 3% of my deposit on this trade or 1.5% if I decide to use 3x Leverage. This trade could last a long time for me but the target on there are off the 4HR , 12hr, 1Day and 3 Day TFs . You can see the other lines above if you want to hold it long term as well. Weekly has even more. Doubt we have seen the end of the bear market, I know it doesn't feel like it but never too early to start preparing and to be prepared just in case.
Best of luck... I was hesitant to share this as I worry some people will just see it without understanding it completely. If you don't understand what you are looking at then don't trade it. I did make it fairly simple and moved it to TFs from ticks. Please don't jump in this trade with high leverage expecting quick returns this is not the trade for it.
Many things went into this trade setup. TP1 will be fairly easy but could easily reverse to other entries after or anytime during. I am not worried unless it goes below 14k and even then the options will cover loss and can hedge any big reversals with opposite futures either on a different exchange or some let you long and short on the same in hedge mode. However, that technically isn't hedging.. Suggest you find an instrument you know and use it as a hedge. Options work great. There are many great ways to protect your capital.
Not your financial advisor and this is just a basic idea for a trade. #DYOR and don't trade more then you can afford to lose. I am using 3% of my deposit on this trade or 1.5% if I decide to use 3x Leverage. This trade could last a long time for me but the target on there are off the 4HR , 12hr, 1Day and 3 Day TFs . You can see the other lines above if you want to hold it long term as well. Weekly has even more. Doubt we have seen the end of the bear market, I know it doesn't feel like it but never too early to start preparing and to be prepared just in case.
Best of luck... I was hesitant to share this as I worry some people will just see it without understanding it completely. If you don't understand what you are looking at then don't trade it. I did make it fairly simple and moved it to TFs from ticks. Please don't jump in this trade with high leverage expecting quick returns this is not the trade for it.
Many things went into this trade setup. TP1 will be fairly easy but could easily reverse to other entries after or anytime during. I am not worried unless it goes below 14k and even then the options will cover loss and can hedge any big reversals with opposite futures either on a different exchange or some let you long and short on the same in hedge mode. However, that technically isn't hedging.. Suggest you find an instrument you know and use it as a hedge. Options work great. There are many great ways to protect your capital.
Trade active
Trade active:
Trade still good. Just extended the time. Some Profits taken will add to it when we get back to entry and lowering stop loss to below 18.0
Trade closed: stop reached