50k and 60k are the key levels. Everything else is noise at this point.
Four scenarios:
1. Acceptance above 60k.Bull trap above 60k.
2. Bull trap above 60k.
3. Bear trap below 50k
4. Acceptance below 50k.
Four scenarios:
1. Acceptance above 60k.Bull trap above 60k.
2. Bull trap above 60k.
3. Bear trap below 50k
4. Acceptance below 50k.
Comment:
My gut feeling is 50k next, but my brain says 60k until funding picks up.
Comment:
The crowded trade is obvious as stated above.
But selling >60k and buying <50k is where the edge is lies.
Money is made by discounting the obvious.
But selling >60k and buying <50k is where the edge is lies.
Money is made by discounting the obvious.
Comment:
Ask me if I hedged between 55-60k like the original plan was? Nope. Fell in love with the idea of longing to a higher area of liquidity (>60k) until funding picks up. Burnt.
Comment:
Once again my gut feeling is telling me to hedge everything at $49k, since this type of PA usually marks the top. But my brain tells me that is the crowded trade.
Comment:
The bearish thing is this is spot driven sell-off. We are at 48k and derivatives still haven't turned negative
Comment:
I hedged about 30% of my portfolio, I feel that's a must here to stay level-headed.
Comment:
Bearish re-test of 50k and funding still yet to go negative. Time to hedge more?
As long as funding stays flat or negative, I imagine smart money to be long.