#4 Newsletter: Week 12.11.23 - 19.11.23
Updated Fibonacci level to recent top 3800
1. Signs of Bearish Divergence on RSI, MACD
2. $38k was the price when LUNA collapse so expected decent stop-loss, profit-taking here
Trade Ideas
1. Short above $37.5 at ½ size (no auto stop – we manage accordingly under $40)
2. Always target 0.382 or 0.5 Fibonacci level under $34k, hence around +2 R/R
*Just to be clear, I believe this is a start of the bull market and “follow the trend: buy when uptrend, sell when downtrend ” will make our life so much easier i.e less hustle, higher hit rate, even bad entry will become an accumulation. We rather wait for Bullish Divergence entry than Bearish Divergence entry
A short for profit is unnecessary, too much work and uncertainty for too little money (small size at best). The point is for me personally to feel the market as I will start buying BTC soon and mostly spread across level and timeline
More interesting opportunities would be on ETH and Alt Market, but
1. I’m not a big fan of Alt market now, price can pump 20-40% but can crash the same as quickly and easily. My goal is to establish my exposure into the market for the coming months so I need size, not a profit
2. ETH is a better choice consider that it is more fundamental and a benchmark for alt season etc... ETF news would help too. But again, finding an entry on BTC should be my priority now
Updated Fibonacci level to recent top 3800
1. Signs of Bearish Divergence on RSI, MACD
2. $38k was the price when LUNA collapse so expected decent stop-loss, profit-taking here
Trade Ideas
1. Short above $37.5 at ½ size (no auto stop – we manage accordingly under $40)
2. Always target 0.382 or 0.5 Fibonacci level under $34k, hence around +2 R/R
*Just to be clear, I believe this is a start of the bull market and “follow the trend: buy when uptrend, sell when downtrend ” will make our life so much easier i.e less hustle, higher hit rate, even bad entry will become an accumulation. We rather wait for Bullish Divergence entry than Bearish Divergence entry
A short for profit is unnecessary, too much work and uncertainty for too little money (small size at best). The point is for me personally to feel the market as I will start buying BTC soon and mostly spread across level and timeline
More interesting opportunities would be on ETH and Alt Market, but
1. I’m not a big fan of Alt market now, price can pump 20-40% but can crash the same as quickly and easily. My goal is to establish my exposure into the market for the coming months so I need size, not a profit
2. ETH is a better choice consider that it is more fundamental and a benchmark for alt season etc... ETF news would help too. But again, finding an entry on BTC should be my priority now
