What's up friends,
In my last post, I said I didn't think we would make it past the $7,100 support region and it looks like I was right. You can read about that here:
In the comments I said that I opened a small short position at $7120, which was around $30 off the top of the recent move - so pretty good. My logic there was simple: we are at support and have been on a long winded bull-run which I suspected would end - I also wanted to lock in more profit from the long trade I was in. It also fit in my strategy, but I don't want to talk so much today and so that's all I will say.
At the moment, YoungShkreli is SHORT bitcoin. I am really hoping this move takes us to $5,000 so we can be done with it. The longer it takes to get there, the more problems (waiting is not sexy).
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
PS More money doesn't mean more problems - it means more better problems. What would you rather worry about: a) how you are going to pay rent to avoid living on the street? or b) what market is liquid enough to invest in so that you can put in $100M so you don't lose $2M to inflation? I sure as hell know the answer is b. As Mark Helm says, (you almost certainly don't know him - that's okay) "your quality of life is a function of your problems." If you have good problems, you have a good life. There is no such thing as no problems - the universe is too complicated for that.
In my last post, I said I didn't think we would make it past the $7,100 support region and it looks like I was right. You can read about that here:
In the comments I said that I opened a small short position at $7120, which was around $30 off the top of the recent move - so pretty good. My logic there was simple: we are at support and have been on a long winded bull-run which I suspected would end - I also wanted to lock in more profit from the long trade I was in. It also fit in my strategy, but I don't want to talk so much today and so that's all I will say.
At the moment, YoungShkreli is SHORT bitcoin. I am really hoping this move takes us to $5,000 so we can be done with it. The longer it takes to get there, the more problems (waiting is not sexy).
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
PS More money doesn't mean more problems - it means more better problems. What would you rather worry about: a) how you are going to pay rent to avoid living on the street? or b) what market is liquid enough to invest in so that you can put in $100M so you don't lose $2M to inflation? I sure as hell know the answer is b. As Mark Helm says, (you almost certainly don't know him - that's okay) "your quality of life is a function of your problems." If you have good problems, you have a good life. There is no such thing as no problems - the universe is too complicated for that.
Note
BTW if you look at those dots, they correspond to how I was thinking about the market. You'll notice I've been right a whole damn lot (exactly in terms of the trend) and yet I'm not being flooded with new followers - this might be because I am doing something else poorly. Please provide feedback at what I suck at so that I can do better in the future. Thanks.-YoungShkreli
Note
If you do not follow me, I'd really appreciate you telling me why you don't. Thanks. -YoungShkreli
Note
Guys, I meant resistance lmfao. I don't know how I misspoke there. Whoops. I guess it was obvious what I meant, but still. -YoungShkreli
Trade closed: stop reached
Trade closed:profit: 1100/BTC long
Don't like the price action, took profit here $7,020. Took out previous high - not super bearish. We made money, but maybe it's not ready to go down yet. I will be a buyer at a $7,100 region breakout.
I will likely short again if an ashi closes red. However, right now, there is nothing bearish to stay short on. So, I am neutral at the moment.
I hope you guys made a small profit like I did.
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Disclaimer
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.