"Reflecting on the recent BTC price movement, my earlier prediction of it not hitting ATH before the halving proved incorrect, as it soared to 69200. Although I missed the long opportunity after exiting in the 46k range, I don't regret not participating in the Bull Run. I maintain confidence in an impending market correction, anticipating the opportunity to buy BTC below 30k. Staying true to my strategy, I've initiated a short position at 68900 with a stop at 69200, acknowledging the associated risks.
In contrast to the current bullish sentiment, I remain bearish, driven by insights from the MT Pandora's Box indicating an anticipated dump either before or after the halving. While my affection for BTC is undeniable, self-preservation takes precedence, and patience is my ally. I foresee a substantial dip below 30k, positioning myself for significant gains.
Despite my optimism for BTC reaching 120k by the end of 2025, the current price doesn't align with my strategy. The introduction of BTC ETF has heightened volatility, and I anticipate more fluctuations during the upcoming market correction. For those already in the market, my advice is to hold tight; the drama is expected to subside in less than six months from October 2024.
As the dump unfolds, focus on strategic buying rather than succumbing to panic-induced selling. Remember, patience is key, and hasty decisions may lead to regrets. Let's navigate these market dynamics with a calculated approach. Happy Trading
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.