Bitcoin (BTC) Short the rally, good scalp
Updated
Bitcoin has had a pump to 6600 as a result of a 300+ BTC buy from a whale. Now we may short this with a target at 6400. Most of these pumps have had a 100% correction.
I am short from 6600 and have over 80% of my capital available to add to my short if we blow past 6600. Looking at this accumulation zone we can see each time we hit 6600 we can expect a drop below 6400. This is just playing on the observation and this price is not a bad spot for a short scalp.
Therefore we can have good confidence shorting here.
Entry:
6600 USD
Take profit:
6400 USD
6200 USD
Thanks for viewing! I have been mostly correct in calling the shorts for Bitcoin. I believe shorting is safer in bear trend. Even if we rally to 7.7k we are still in a bear trend. The short squeeze rumours are dangerous, as many shorts were done in large chunks (whale) and there is a possibility we get another 30% increase in shorts.
On the bullish side, there has been strong buying on Bitfinex.
I am short from 6600 and have over 80% of my capital available to add to my short if we blow past 6600. Looking at this accumulation zone we can see each time we hit 6600 we can expect a drop below 6400. This is just playing on the observation and this price is not a bad spot for a short scalp.
Therefore we can have good confidence shorting here.
Entry:
6600 USD
Take profit:
6400 USD
6200 USD
Thanks for viewing! I have been mostly correct in calling the shorts for Bitcoin. I believe shorting is safer in bear trend. Even if we rally to 7.7k we are still in a bear trend. The short squeeze rumours are dangerous, as many shorts were done in large chunks (whale) and there is a possibility we get another 30% increase in shorts.
On the bullish side, there has been strong buying on Bitfinex.
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Hold off for now. We might get to 6650
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We got to 6650. Added to shorts.Note
Use small amounts so we can short this to 7k+.Note
Make sure you have enough money so your liquidation price is above 8k.I have enough capital to short this all the way to 7.4k comfortably. Added shorts 6700. I expect a 6800+ BTC.
Note
I expect a breach of 7.1k to 7.4k. This is why we save our capital for the big orders.Note
Keep in mind we will almost certainly get a higher high above 6.8k. When that happens and retail buys the whales can fill their shorts. If you are short from 6.8k, do not have a stop loss near the expected place above the higher high.
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Note
A big buy order has been moved to 6600. Expect a bounce there or for that to become support.
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Exactly as I predicted. I should get an award for this or something,
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