As we go parabolic we're starting to get into the completion of the butterfly. Here are the things a prudent bull should be noticing in the BTC chart, consist with historic bull traps.
Entering into the 51 - 53K zone, we're into the maximum danger zone for bulls. A shroud bull may hedge their position in the futures/CFD markets at this point. Or exit longs and enter if we breakout above. In both cases, the price risk on a stop above the high would be 10 - 15% and protect against losses of 75% or more. Allowing someone to massively increase their net position if they are strong bull.
For the bears, what to do should be obvious.
If we can get a bit above my selling zone, I'm likely to become a strong BTC bull again, but this looks like the death zone for bulls. I'm not touching it in here, all the RR stacks to the short.
Entering into the 51 - 53K zone, we're into the maximum danger zone for bulls. A shroud bull may hedge their position in the futures/CFD markets at this point. Or exit longs and enter if we breakout above. In both cases, the price risk on a stop above the high would be 10 - 15% and protect against losses of 75% or more. Allowing someone to massively increase their net position if they are strong bull.
For the bears, what to do should be obvious.
If we can get a bit above my selling zone, I'm likely to become a strong BTC bull again, but this looks like the death zone for bulls. I'm not touching it in here, all the RR stacks to the short.
Note
Entry Selling 50,800
Limits 51,450
51,709
52,150
Sell stop orders (To enter into falling market)
49,400
49,500
48.900
45,900
(I consider these critical break levels and would want to be short if these hit before my upside limits)
All stops are 57,790.
Target 13,270.
Note
Adding some sell stops 50,270 and 50,120 to get up to full short earlier if it breaks. Ideally it spikes for my limits. Better entry.Note
Full short 50,750Note
Probably early. Out my tighter stop trades and have some longs on to cover a spike. 
Plan to be larger short between 51.5 and 52.5
Note
Got stopped out some short-term entries. Swing stops not hit yet. Position increased 52.5 - 52.7 
Note
Breaking of the bull trap may be approaching. 
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Related publications
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.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Related publications
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.