Jokes aside. Bitcoin's recent price action suggests price action is going down, I do have an open short with an entry at 32816, however, I would exercise extreme caution to anyone contemplating trading the market in current conditions.
This is likely going to explode and if you're not exercising sufficient risk, or understand how to properly trade this, stay out of this market. It's dangerous.
It's very interesting how this pattern converges with the fib.
Currently I find that the idea of hitting .786 fib to be unlikely, but I'll evaluate as price action develops.
For now, I'm happy to be mostly waiting on the sides camp with a small short and a few core positions :)
Be responsible everyone!
This is likely going to explode and if you're not exercising sufficient risk, or understand how to properly trade this, stay out of this market. It's dangerous.
It's very interesting how this pattern converges with the fib.
Currently I find that the idea of hitting .786 fib to be unlikely, but I'll evaluate as price action develops.
For now, I'm happy to be mostly waiting on the sides camp with a small short and a few core positions :)
Be responsible everyone!
Trade closed manually:
Trade closed on {2021/07/23 10:32:52} for break even. Idea now invalidated, market is different
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