BTC TRADE IDEA
Hi all.
So BTC obvioulsy recovered a bit from the dump past couple of days, but i'm not sure if that was it or we have the rest of the week of ugly choppy price action.
To protect my spot exposure, I'll be taking a short at the .705 retracement level (golden zone between .618 and .79).
Invalidation close to entry (swing high at 55050), aiming for 15th february weekly open at 48700ish as the first target (40% position close), and cutting rest lower or at the first target, depending of the price action.
This is not a bearish outlook on BTC, it is just a way to protect my capital (taking a 1x spot exposure short), in case BTC decides to dump further.
P.S. I'm using FTX exchange, which kind of made me stop using Binane and Kraken, could not recommend it enough.
Check FTT and SRM for longer term spot buys, Sam Bankman-Fried is an incredibly smart and successful quant trader in whom I truly believe
to make amazing projects.
If in need, here is my referral for FTX exchange: ftx.com/ (5% fee discount)
*not investment advice*
So BTC obvioulsy recovered a bit from the dump past couple of days, but i'm not sure if that was it or we have the rest of the week of ugly choppy price action.
To protect my spot exposure, I'll be taking a short at the .705 retracement level (golden zone between .618 and .79).
Invalidation close to entry (swing high at 55050), aiming for 15th february weekly open at 48700ish as the first target (40% position close), and cutting rest lower or at the first target, depending of the price action.
This is not a bearish outlook on BTC, it is just a way to protect my capital (taking a 1x spot exposure short), in case BTC decides to dump further.
P.S. I'm using FTX exchange, which kind of made me stop using Binane and Kraken, could not recommend it enough.
Check FTT and SRM for longer term spot buys, Sam Bankman-Fried is an incredibly smart and successful quant trader in whom I truly believe
to make amazing projects.
If in need, here is my referral for FTX exchange: ftx.com/ (5% fee discount)
*not investment advice*
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