$BTC pulled back to 86,500, and I added another short position đ
$BTC climbed from 84,789 to 86,994 in 24 hours, up 1.47%, with consecutive bullish candles pushing upward on the 15-minute chartâlooking pretty strong. But the 86,994 level was tested twice and failed to break through, with volume shrinking each time, a classic sign of exhaustion.
On the news front, some traders are calling for a breakout above the previous high between April and August next year, but such long-term projections donât help much for short-term trading. Right now, thereâs a lot of trapped positions above 86,500; yesterdayâs spike at 86,914 is still hanging there, so a rebound to this level just gives shorts a good entry.
My short from yesterday is still open, and I added another short at 86,500 today, raising my average price a bit. Stop loss is set uniformly above 87,200. Iâm betting it canât push through and will retreat to 85,000.
Are you guys daring to follow this? Or just watching me eat noodles? đ
$BTC climbed from 84,789 to 86,994 in 24 hours, up 1.47%, with consecutive bullish candles pushing upward on the 15-minute chartâlooking pretty strong. But the 86,994 level was tested twice and failed to break through, with volume shrinking each time, a classic sign of exhaustion.
On the news front, some traders are calling for a breakout above the previous high between April and August next year, but such long-term projections donât help much for short-term trading. Right now, thereâs a lot of trapped positions above 86,500; yesterdayâs spike at 86,914 is still hanging there, so a rebound to this level just gives shorts a good entry.
My short from yesterday is still open, and I added another short at 86,500 today, raising my average price a bit. Stop loss is set uniformly above 87,200. Iâm betting it canât push through and will retreat to 85,000.
Are you guys daring to follow this? Or just watching me eat noodles? đ
