$BTCUSD: The bear case...
If this stays down during next week, a weekly decline can trigger in 
BTCUSD, sending #Bitcoin down towards the 14k region, where the next weekly support level sits.
I'm short Bitcoin and Ethereum here, which works well as a hedge for my stocks portfolio, and might generate some uncorrelated returns as well. You can likely short both vs the dollar, but also take a look at the
ETHBTC chart I published, if that trend reverses there, as per the daily, there's nice room to fall in the ratio, which might be an attractive play as well.
I'm thinking we will see a continued decline in crypto, but equities might hold up better overall, although likely under pressure, and sideways as the best case scenario for SPY.
Stay safe out there,
Cheers.
Ivan Labrie.
BTCUSD, sending #Bitcoin down towards the 14k region, where the next weekly support level sits.I'm short Bitcoin and Ethereum here, which works well as a hedge for my stocks portfolio, and might generate some uncorrelated returns as well. You can likely short both vs the dollar, but also take a look at the
ETHBTC chart I published, if that trend reverses there, as per the daily, there's nice room to fall in the ratio, which might be an attractive play as well.I'm thinking we will see a continued decline in crypto, but equities might hold up better overall, although likely under pressure, and sideways as the best case scenario for SPY.
Stay safe out there,
Cheers.
Ivan Labrie.
Note
I sold my 
BITI positions at the open today, was up 9% or so since I got in.Waiting on the sidelines, noticed 1h had flashed an uptrend earlier today so I got out, but looking forward to fading this rebound if a weekly signal confirms on close...
Might scoop some OTM puts soon.
Note
Maybe the 2018 style '6k obvious bottom everyone thought was a bottom' repeat?...
Trade closed manually
I am long EHBTC, flat BTCUSD itself...I suspect it will be range bound until November... 
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