BTC /USD - BTC above $20k as I told ya last week
With a one-thousand candle, BTC has pumped through 20k as I mentioned last Sunday. Price has been up 13.8% (at 20.5k) since I entered at 18k.
1. Since we are making another higher high, the dip at 17.6k on Dec 11th has become a confirmed higher-low. Hence, it would make sense to move the stop-loss to right below this level. If this bullish trend keeps going on, the higher-highs & higher-lows structure shall be intact.
2. Although the TP1 at 21.4k seems possible, it would definitely reasonable to secure a portion of the profit here, which would be 40% in my case. The rest shall run itself with the new stop-loss level.
3. Taking profit is encouraged, but shorting is a no-go for me. Since price has made a new all-time high, we are now in a no-chart territory and I seriously don't know what is gonna happen next. BTC's momentum is still very strong right now, so it would be ape-like to jump in a speeding train and short the corn. I learned this lesson the hard way. If I were sitting on the sideline, I would prefer to keep waiting for a pull-back and evaluate the situation.
4. Anyway, thank you to those who shorted.
1. Since we are making another higher high, the dip at 17.6k on Dec 11th has become a confirmed higher-low. Hence, it would make sense to move the stop-loss to right below this level. If this bullish trend keeps going on, the higher-highs & higher-lows structure shall be intact.
2. Although the TP1 at 21.4k seems possible, it would definitely reasonable to secure a portion of the profit here, which would be 40% in my case. The rest shall run itself with the new stop-loss level.
3. Taking profit is encouraged, but shorting is a no-go for me. Since price has made a new all-time high, we are now in a no-chart territory and I seriously don't know what is gonna happen next. BTC's momentum is still very strong right now, so it would be ape-like to jump in a speeding train and short the corn. I learned this lesson the hard way. If I were sitting on the sideline, I would prefer to keep waiting for a pull-back and evaluate the situation.
4. Anyway, thank you to those who shorted.
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