The steep angle of ascent as seen in this most recent BTC bull run has occured only twice since 2018 (longer term daily chart), both seeing BTC trade sub $4k vs. USD within the coming weeks.
- Break of trendline support would be confirmation that BTC bulls have exhausted and an equally vicious downside swing is in store
- Shorts on breakouts below the recent uptrend support level open the door high r:r opportunities
- Holding medium to long term short positions with stops above 20k barrier and likely to add to position on a breakout below the recent extreme angle of ascent on trendline support as its provides confirmation of most likely choppy price action followed by a steep downtrend in BTC
Long run, I am long BTC...swing trades on short or long side are to accumulate more BTC holdings.
Trades are based on top down macro-economic fundamentals with technicals primarily applied for risk mgmt purposes to attain high r:r setups
- Break of trendline support would be confirmation that BTC bulls have exhausted and an equally vicious downside swing is in store
- Shorts on breakouts below the recent uptrend support level open the door high r:r opportunities
- Holding medium to long term short positions with stops above 20k barrier and likely to add to position on a breakout below the recent extreme angle of ascent on trendline support as its provides confirmation of most likely choppy price action followed by a steep downtrend in BTC
Long run, I am long BTC...swing trades on short or long side are to accumulate more BTC holdings.
Trades are based on top down macro-economic fundamentals with technicals primarily applied for risk mgmt purposes to attain high r:r setups