Pickle_Trader

Pickle_Trader Updated 

At overnight value low and mid-range. Extremely oversold. 2 to 1 risk reward. Could be a quick vacuum type move during the initial balance. I'll be looking for some type of consolidation around the mid-range to get long.

Pickle_Trader

When all the $trillions of BBB corporate credit gets downgraded to junk... many if not most large institutional investors will have to sell (due to their bylaws) because they're not allowed to own junk. Wait for repricing to occur and buy the junk for pennies on the dollar.

Pickle_Trader

Bias: $5k bottom picking bulls are trapped. Plan: spot orders from $4400 all the way down to $11. Could get ugly. But the recovery will be historic.

Pickle_Trader

Looking to short bitcoin weekly resistance at 6400 area for a sweep of the lows in the $4k area. Invalidated if price accepts above 6600.