Just opened a bitcoin short.
I have been waiting for a reversal to possible push down to $59000 this week.
I think the bears might start dumping now based on current price action.
This is not the main short though that am waiting on, the bulls still have the upper hand...not for long if am reading the price action correctly.
I do think it's quite probable to push down today to hit my $62300 target before main setup and that's a 3RR potentially so I think it's worth the risk.
It s not my main or highest probability setup though.
I have been waiting for a reversal to possible push down to $59000 this week.
I think the bears might start dumping now based on current price action.
This is not the main short though that am waiting on, the bulls still have the upper hand...not for long if am reading the price action correctly.
I do think it's quite probable to push down today to hit my $62300 target before main setup and that's a 3RR potentially so I think it's worth the risk.
It s not my main or highest probability setup though.
Note
Scaled into position on bybit separate from mexc.Note
Since am awake now. I removed the $61500 Tp on #bitcoin short. I'll opt to close manually instead base on the price action.Note
bitcoin short trade update.Market is definitely trending down but slowly. Bulls are hanging on for dear life, they weak right now.
I anticipate lower lows.
I have re-opened my tp. (Will take profit manually)
Potential 50% close at $61,400
If push aggressively lower than $61,400 in 1 move then for sure am closing 50% at $61,100 area...$61000 is the target but am a front run it a bit given it plays out. Sometimes bitcoin will tease these psych levels by going close then correct before it hits it.
Note
secured 50% bitcoin shortNote
cpi data suggest increase in inflationNote
limit order set to close 75% of bitcoin short at $59000. Will monitor the rest and close manually if neededDisclaimer
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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.