MASSIVE BITCOIN SELL-OFF. WHERE AM I LOOKING TO GO LONG?
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So Bitcoin ploughed through all supports like they were nothing and totally rekt any breakout traders who traded that triangle breakout above 9200.
Anyway, here we are. So what now?
I think we are still at the mercy of global markets and are highly correlated to them. In the short term i think we still head lower into the monthly levels at around 7560 and then ultimately around 7150 ish before we see a substantial bounce and possible reversal into the halving.
I will start scaling into a long in the box area on low leverage for a long term swing into and beyond the halving.
Anyway, here we are. So what now?
I think we are still at the mercy of global markets and are highly correlated to them. In the short term i think we still head lower into the monthly levels at around 7560 and then ultimately around 7150 ish before we see a substantial bounce and possible reversal into the halving.
I will start scaling into a long in the box area on low leverage for a long term swing into and beyond the halving.
Nota
We are in the box and i am scaling into a long. Very, very risky with the Covid-19 scare but if we're going to go, this is the zone for me. Gently, gently.Nota
Wow, that was quick! BTC hit the bottom of my box and where i expect a big bounce. Will we get it. I am now long with SL below 6800Nota
Well that was incredible. Nobody could have predicted that capitulation. Insane! Got stopped out and suffered big slippage. Disappointing. Am going to chill for a while here and wait for the market to show some strength before going long again. Brutal.
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