$BTC Even though this is clearly an ascending triangle, I still haven't closed my short position.
The reason is simple: this is a high-concentration trading zone. I was bearish last April, during the previous run, and figured price would surely reach the 85,000–88,000 zone. In the end, it fell before even touching 83,000. The structure is bullish now, but who knows if it’ll shoot straight up to 88,000 or even 90,000.
Anyone with even a little technical knowledge knows there are plenty of trapped holders at this level. Do you think the whales don’t know that? What if they only push it a little above 87,000 before turning it around? The weekly KDJ is already at 90—just like ZEC near 1,650 last time. Back then, a bunch of people were calling for 1,800. And what happened?
So I’m planning to hold for the medium to long term.
#BTC
The reason is simple: this is a high-concentration trading zone. I was bearish last April, during the previous run, and figured price would surely reach the 85,000–88,000 zone. In the end, it fell before even touching 83,000. The structure is bullish now, but who knows if it’ll shoot straight up to 88,000 or even 90,000.
Anyone with even a little technical knowledge knows there are plenty of trapped holders at this level. Do you think the whales don’t know that? What if they only push it a little above 87,000 before turning it around? The weekly KDJ is already at 90—just like ZEC near 1,650 last time. Back then, a bunch of people were calling for 1,800. And what happened?
So I’m planning to hold for the medium to long term.
#BTC