Last night, Bitcoin pulled back to around 80300 at around midnight and started consolidating before rebounding. #BTC has now rebounded to a high of 82700 again, which happens to be the spot where the sell-off happened last night. Bitcoin has already rebounded 2400 points. Under normal circumstances, if the rebound to 83000 cannot hold, it will likely move higher if it does hold.
Last night, I chased a short around 81700 hoping to catch a larger move, so I didn’t close it even after it went down. I added another position around 82500 during the rebound. If it breaks above 83000 and holds, this trade becomes unnecessary. Intraday, Bitcoin’s rebound looks like it’s climbing stairs, and the rebound has been quite steady.
Last night, I chased a short around 81700 hoping to catch a larger move, so I didn’t close it even after it went down. I added another position around 82500 during the rebound. If it breaks above 83000 and holds, this trade becomes unnecessary. Intraday, Bitcoin’s rebound looks like it’s climbing stairs, and the rebound has been quite steady.