I posted a long idea a few days ago to long the dip due to being a contrarian. The time for the pump however has long since passed. A bullish scenario will have us 25-30% correction while a more bearish one can see us go all the way down to 4k. Breaking support is not that likely there is very little risk reward benefit to longing right now since we broke the crucial 47 support and closed a few days below it. If you are long I strongly urge to hedge your positions with a short option on the derebit exchange. Fundamentals are bullish but the price needs to just to the surprise of record numbers of covid cases resurging. This is a massive financial problem since business will have to adapt to modes that don't need much social contact
Comment:
meant to say adjust
Comment:
price pumped slightly to 9.28k. At posting price was 9.195K. I recommend to still hold short. 3-4 week buy back around 5-6k
Comment:
Hold shorts. Dont worry about indexes making new highs. There overextended on the bigger time frames and bitcoin has not budged higher despite nasdaq making new high.
