19.04.2021

Though it seems likely (~70%) the drop to 50k was a trap, I don't like one bit the pattern price has formed in the last two months. We are only able to break into marginally higher highs that are followed by significant sell-offs.

Comment:

To me on-chain and derivatives data looks bullish, the chart pattern bearish.

If we get acceptance above 61-62k, I believe it's off to the races. The current plan is to hedge 58-60k, but let's see if I'll pull the trigger.

Comment:

Current portfolio (100% exposure):

64.12% BTC
10.00% ETH
08.82% ADA
07.19% LINK
07.09% BAND
1.66% DOT
1.13% UNI

Comment:

Going from 57k to 60k-62k could be a +5% free lunch long. Funding is flat and 60k is the key area of interest. 60-62k has the potential be the optimal bull trap zone, as a lot of traders will be putting their bulltard cap back on if we get there.

Comment:

Hedging 60k (or when the funding picks up), and hopping back in a bit higher or a lot lower seems to be the best option I can come up with right now.