I wanted to post a more precise idea.
My previous ideas were bullish Bitcoin but I wasn't sure where price would bottom. So I drew a large rectangle to show where I would start scaling in.
Now I believe we are close to the absolute bottom before new highs.
I would look for price to hold for a few days first, while also being able to make new highs on a smaller timeframe. Then I would TWAP over a few hours to get fully filled. The position size can be increased as well, if Bitcoin is able to reclaim 67-70k.
If we keep looking weak, I will exit.
My previous ideas were bullish Bitcoin but I wasn't sure where price would bottom. So I drew a large rectangle to show where I would start scaling in.
Now I believe we are close to the absolute bottom before new highs.
I would look for price to hold for a few days first, while also being able to make new highs on a smaller timeframe. Then I would TWAP over a few hours to get fully filled. The position size can be increased as well, if Bitcoin is able to reclaim 67-70k.
If we keep looking weak, I will exit.
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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.