Be careful about throwing all your capital into a highly leveraged short on BTC, thinking it’s no longer going to rise, because it could still surprise to the upside… there are still major liquidations up to 86k…
That doesn’t mean it’s 100% certain that the price has to rise because of them, but the probability increases as long as it stays in the 79k zone and above.
If it breaks 83k and you haven’t closed the short and still have capital, the whole 83k-86k area is for averaging in (that’s what I’ll do if that happens) or starting a new short, with an SL above 86,500 and looking for a drop from the top of at least 15% to join the bullish move…
Why do I say a 15% drop? Currently it’s on a streak of 94 days without correcting by at least 15% from one daily candle close to the next, and historically most of the time it corrects that percentage before 100 days, I’m leaving you a photo…
Suppose it rises to 86k and wipes out all the area shown in the photo, we subtract 15% and that gives us a price of 73k….
From 73k-69k, that would be the moment to enter long, because the most likely scenario is that the trend from bearish to bullish is about to begin…
But if we don’t see a break of 83k, the probability of going at least to 70k-69k (which represents 15%) is huge; at that point it will be decided whether it bounces or breaks that key level. Below 68k, I consider that we are still in a bear market and that it can still go after 62k-60k and even new lows.
This is my plan, let’s see what happens in the coming days, good vibes to everyone… 🍀🤞🏻
That doesn’t mean it’s 100% certain that the price has to rise because of them, but the probability increases as long as it stays in the 79k zone and above.
If it breaks 83k and you haven’t closed the short and still have capital, the whole 83k-86k area is for averaging in (that’s what I’ll do if that happens) or starting a new short, with an SL above 86,500 and looking for a drop from the top of at least 15% to join the bullish move…
Why do I say a 15% drop? Currently it’s on a streak of 94 days without correcting by at least 15% from one daily candle close to the next, and historically most of the time it corrects that percentage before 100 days, I’m leaving you a photo…
Suppose it rises to 86k and wipes out all the area shown in the photo, we subtract 15% and that gives us a price of 73k….
From 73k-69k, that would be the moment to enter long, because the most likely scenario is that the trend from bearish to bullish is about to begin…
But if we don’t see a break of 83k, the probability of going at least to 70k-69k (which represents 15%) is huge; at that point it will be decided whether it bounces or breaks that key level. Below 68k, I consider that we are still in a bear market and that it can still go after 62k-60k and even new lows.
This is my plan, let’s see what happens in the coming days, good vibes to everyone… 🍀🤞🏻
