Bitcoin long expectations v2 update Setup is completely invalid due to the drop
I'm always keeping my position in short, but I adjust it based on if I think we'll get a bounce up or not. Opened a position $275~, targeting mid 260s. Keeping position size of this trade small, as it's not that rewarding and not really confirmed.
My targets for covering. Bounces are expected and possible - probably <$10 bounces to be seen.
Chance of it happening is a lot higher than last time.
I drew the price prediction line on the 25th (red dotted line). Checked this chart today and the price followed extremely close to it both in price and timeframe. I thought it was very interesting indeed... I couldn't remember how I drew it at first, but then I realized it was me drawing/cloning basically a smaller version of what happened since the previous...
This is kind of a follow-up idea with better analysis to my last post which I started shorting from. Most likely scenario is for us to drop down to that area I mentioned. 360s. But that's a really good area to buy at. The market has been leaving the triangle a little bit but hasn't spent much time there, and a lot of the time longs might get trapped there and...