#BTC
Zoom out on the weekly chart—right now, this is the foot of the mountain.
Once the 50-week and 100-week moving averages flip upward, the direction will become clear.
Before that, all short-term shorts are going against the larger trend.
Look back a year or two later—at the 160K level, nobody will remember these fluctuations.
I’m holding spot and some long positions, not doing too much trading; that may actually be the most effective approach.
Zoom out on the weekly chart—right now, this is the foot of the mountain.
Once the 50-week and 100-week moving averages flip upward, the direction will become clear.
Before that, all short-term shorts are going against the larger trend.
Look back a year or two later—at the 160K level, nobody will remember these fluctuations.
I’m holding spot and some long positions, not doing too much trading; that may actually be the most effective approach.
