Bitcoin short around 84,000, stop-loss at 85,000, target 82,000; if it breaks below that, watch 80,200.
The long trade I called last time had the right direction. It shot up from 83,000 to above 84,000 in one go overnight, and everyone who followed saw it.
Too bad the wick was brutal—the stop-loss got hit, so we didn’t get the full move.
Now I’m switching directions and looking for a spot to short.
It’s tested 84,000 three times today: 84,072 early this morning, 84,163 in the afternoon, and 84,231 at 3:30. Each high was higher than the last, but every time it only pushed a few dozen to a hundred points higher before getting slammed back down.
The selling pressure above is clearly strong. It just fell back below 83,600 again and is now at 83,300.
Don’t chase shorts down here. Wait for it to rebound to around 84,000 before opening a short. Set the stop-loss at 85,000 to leave enough room for a wick, so you don’t get stopped out by another spike.
82,000 is where it plunged to last week before recovering, and 80,200 is where this rally started. #btc $BTC
The long trade I called last time had the right direction. It shot up from 83,000 to above 84,000 in one go overnight, and everyone who followed saw it.
Too bad the wick was brutal—the stop-loss got hit, so we didn’t get the full move.
Now I’m switching directions and looking for a spot to short.
It’s tested 84,000 three times today: 84,072 early this morning, 84,163 in the afternoon, and 84,231 at 3:30. Each high was higher than the last, but every time it only pushed a few dozen to a hundred points higher before getting slammed back down.
The selling pressure above is clearly strong. It just fell back below 83,600 again and is now at 83,300.
Don’t chase shorts down here. Wait for it to rebound to around 84,000 before opening a short. Set the stop-loss at 85,000 to leave enough room for a wick, so you don’t get stopped out by another spike.
82,000 is where it plunged to last week before recovering, and 80,200 is where this rally started. #btc $BTC