All my tech stocks hit stop-losses over the past two weeks.
At least I didn’t lose too much—the Japanese and Koreans have already jumped off buildings and onto the tracks.
Here are two new takes:
1) $BTC : Looking at around March 20, 2022, it returned to the weekly MA20 and then had a big bullish candle. It’s been 70 days of consolidation since the June rally, and the price clearly retested the top of the March-to-July range. So there may be a trade with a long-term risk-reward ratio of 10 or more. I’ve placed a limit order for one long position at 73100 these past couple of days, with a stop-loss at 69000 (you could make it tighter, depending on your preference). I’m looking for at least a 30% gain on spot, or at least a 100% gain on options. The catalyst should be MSTR’s MSCI event on the 11th, and Bitcoin will keep grinding down to 73 before then.
2) $QQQ : The weekly chart has clearly retested the previous low and the Vegas trend. If the weekly candle closes solid, whether we can short will depend on whether support on the daily chart holds sideways. If you want to crank leverage sky-high, consider $TQQQ .
Lastly, I want to stress once again how important it is to use strict stop-losses. Those people in the comments who gloated when I stopped out of KORU in early October must have all blown up by now, right? 😜
At least I didn’t lose too much—the Japanese and Koreans have already jumped off buildings and onto the tracks.
Here are two new takes:
1) $BTC : Looking at around March 20, 2022, it returned to the weekly MA20 and then had a big bullish candle. It’s been 70 days of consolidation since the June rally, and the price clearly retested the top of the March-to-July range. So there may be a trade with a long-term risk-reward ratio of 10 or more. I’ve placed a limit order for one long position at 73100 these past couple of days, with a stop-loss at 69000 (you could make it tighter, depending on your preference). I’m looking for at least a 30% gain on spot, or at least a 100% gain on options. The catalyst should be MSTR’s MSCI event on the 11th, and Bitcoin will keep grinding down to 73 before then.
2) $QQQ : The weekly chart has clearly retested the previous low and the Vegas trend. If the weekly candle closes solid, whether we can short will depend on whether support on the daily chart holds sideways. If you want to crank leverage sky-high, consider $TQQQ .
Lastly, I want to stress once again how important it is to use strict stop-losses. Those people in the comments who gloated when I stopped out of KORU in early October must have all blown up by now, right? 😜
