Trade's getting tight Y'all
Actualizado
This wedge has guided my trades for months now even though i didn't see it until later and it looks beautiful in hindsight but how much longer can we keep this track?
The range keeps tightening and the support keeps getting tested.
Like a ball bouncing we keep coming up lower each time
A breakout would be good; something above 6.8k tomorrow with conviction
But: I now see this only going out the bottom, you can only bounce on the bed so often before you break it.
I'm going short with a small bag as soon as we break down below 20-day SMA and moving some more into USD(T)
Rationale:
Don't see good news on the horizon, but see some potential bad news (ETF refusals, MtGOX coins getting returned), and no feeling of a groundswell of new retail investors
Still bullish for the long term but I'm gonna try and win some coins of Arthur in the next few weeks
The range keeps tightening and the support keeps getting tested.
Like a ball bouncing we keep coming up lower each time
A breakout would be good; something above 6.8k tomorrow with conviction
But: I now see this only going out the bottom, you can only bounce on the bed so often before you break it.
I'm going short with a small bag as soon as we break down below 20-day SMA and moving some more into USD(T)
Rationale:
Don't see good news on the horizon, but see some potential bad news (ETF refusals, MtGOX coins getting returned), and no feeling of a groundswell of new retail investors
Still bullish for the long term but I'm gonna try and win some coins of Arthur in the next few weeks
Nota
Well we crossed the 20 day SMA and I'm mostly out of 'Trading BTC' I still have long-term storage top-tier coins (~50% portfolio, should be less but have you seen alts lately) and my dead bags (10% - don't even lie and tell me you don't have these) but the rest is all cash or short.Lets see if we bounce off the support, but that 6K line must be pretty thin now
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