October is historically a bearish month for the stock market, but a supposed bull period for crypto defined by many as Up-tober.
Because bitcoin is more so related to the global markets now than ever, and overly bullish sentiment may give the bears an opportunity to capitalize on liquidity, as well as potential uncertainty leading into the American elections.
This may be the last chance to buy Bitcoin before the real bull market begins. A drop below the previous low of
49K would not only trigger massive fear, but likely many stops that can flush the price straight into the mid 40k zone of liquidity.
In other words, the gap at approx $50 on SBIT may be where liquidity sits, before entirely dumping back down to new lows.
This would be an overall good hedge to my portfolio this month.
Because bitcoin is more so related to the global markets now than ever, and overly bullish sentiment may give the bears an opportunity to capitalize on liquidity, as well as potential uncertainty leading into the American elections.
This may be the last chance to buy Bitcoin before the real bull market begins. A drop below the previous low of
49K would not only trigger massive fear, but likely many stops that can flush the price straight into the mid 40k zone of liquidity. In other words, the gap at approx $50 on SBIT may be where liquidity sits, before entirely dumping back down to new lows.
This would be an overall good hedge to my portfolio this month.
Trade active
Entry Hit at 31.40Note
Lets get the reclaim here, and take it back up
Note
Taking profit at $33 today, stop to break even. Note
Targets for the trade are the POC marked as the blue line, and then the Value Area High with the orange line on the chart Note
Taking some more profits as we riseNote
90% closed , letting 10% runTrade closed manually
Stopped out the remaining trade. Will be looking for new trades 
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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.
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.