Another opportunity to short XBT

XBT has been touching the area of 25'980 USD, for a couple of days showing a huge support around that area. However, in theory with each touch on the area its gonna be debilitated.

In sum, I think it's a matter of days when we broke again to the downside having an opportunity for a short (if you are not already or in cash). The move it's gonna be tricky.

My strategy is the following:
1) If we touch again the area in consideration I will put a short with a Stop Loss (SL) with a medium conservatism waiting for a quick rebound (as in previous cycles).

2) I will close 25 % of my position at 24'000 and keep taking profit every 1'000 USD until getting to 75 %.

I will keep updating this idea as the market evolves rapidly.

Comment:

As we mentioned in my strategy (1) IF we touch again the area of support the Short will be triggered. However yesterday we had a 2'000 pump because of the Black Rock winning over the SEC.

The strategy keeps in play.

Comment:

As we said yesterdady the strategy was active and it is now active. The short trade is on the play. Remember that September is always a tacky month for crypto overall.

Target: see bullet number 2 in my description of august 28th.

Comment:

As I told you guys if we had another touch to the support line in red we could break down and so we went down. I think we have more down side as we have no "clear support" yet. We will take 25 % at the 24'000 range (24.5).

Comment:

We are in the position, still consolidating in the lows.