BTC $87K, ETF record — not a reason to load up on long
Yesterday, $999 million were added to the BTC ETF — the highest in 11 months. BTC jumped to $87,300 (8-month high, +7.7%), and exchanges liquidated about $1 billion, including $878 million in shorts.
The market went up on someone else’s pain. By morning, the price pulled back to $85.4K — normal after a surge. Going long at the highs with the kind of leverage I traded 20x with half a year ago is a surefire way to catch a stop-out on the pullback.
After the surge, we cut risk, we don’t double it.
What leverage would you open a long with right now: 2x, 5x, or more?
#WayOfCryptos $BTC $ETH
Yesterday, $999 million were added to the BTC ETF — the highest in 11 months. BTC jumped to $87,300 (8-month high, +7.7%), and exchanges liquidated about $1 billion, including $878 million in shorts.
The market went up on someone else’s pain. By morning, the price pulled back to $85.4K — normal after a surge. Going long at the highs with the kind of leverage I traded 20x with half a year ago is a surefire way to catch a stop-out on the pullback.
After the surge, we cut risk, we don’t double it.
What leverage would you open a long with right now: 2x, 5x, or more?
#WayOfCryptos $BTC $ETH
