Hedging / capitulating too early.
1) g20 pump pre-weekly close is fresh in memory, could still happen again...
2) Close below 8k infirms the 'higher-low', which we are testing way too much past weeks. Divergences are meh (not superclean + weekly RSI support broke and next one shows that there is room for more downside...
https://gyazo.com/5ff0af38bb78d82e1a5077be7205e3a1
3) That CNBC girl was cringy (DEATH CROSS), but not a reason to totally ignore bearish facts + strong support at 3k
4) Permabulls are not panicked at all. We made like 2500% in 2017 so at a 60% drop we keep buying. Don't see any capitulation.
5) Therefore, I went ahead and started a tiny short from 7500. not to make money but to hedge losses: alot of my net worth is in crypto. I would be a happy man if proven wrong.
Still do believe we will see higher prices but god knows when.
2) Close below 8k infirms the 'higher-low', which we are testing way too much past weeks. Divergences are meh (not superclean + weekly RSI support broke and next one shows that there is room for more downside...
https://gyazo.com/5ff0af38bb78d82e1a5077be7205e3a1
3) That CNBC girl was cringy (DEATH CROSS), but not a reason to totally ignore bearish facts + strong support at 3k
4) Permabulls are not panicked at all. We made like 2500% in 2017 so at a 60% drop we keep buying. Don't see any capitulation.
5) Therefore, I went ahead and started a tiny short from 7500. not to make money but to hedge losses: alot of my net worth is in crypto. I would be a happy man if proven wrong.
Still do believe we will see higher prices but god knows when.
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