Bitcoin: Longer term uptrend can still be in control...

2 mar 2020

I'm out of hedges, and looking at price action closely. I do like that leveraged longs closed on the way down and are still reducing here. Shorts went to cash -big traders were most likely hedged, and are now increasing shorts gradually again, at Bitfinex. The long positioning was very extreme, and given the drop and margin calls, is likely resolved, as far as risks go. We have to follow the money, clearly liquidity being drained from global assets accross the board affected #BTCUSD and helped bears get out of bad shorts in profit adding to shorts into weakness.
With that out of the way, longer term upside might resume, following equities. Global coronavirus cases are now trending down after peaking last week. I will bet on the world not ending here...

Cheers,

Ivan Labrie.

7 mar 2020

Trade chiuso manualmente

We closed longs and hedged and went short near 9100:

9 mar 2020

Trade attivo

Covered hedge near 8000

Waiting to add margin and or options