The short I opened at 84,000 has now captured another leg down.
Bitcoin just got slammed to 80,600, down more than 3,400 points since I opened the position. The first target, 82,000, was hit last night. Now we’re just 400 points away from the second target at 80,200.
From start to finish, this trade was based on one thing: money is too expensive, and nobody wants to chase the price higher.
With U.S. Treasury yields holding at 5.2%, Bitcoin tried to break through 84,000 four times and failed. That’s when I placed a short at 84,000. Last night, core CPI came in hotter than expected, Treasury yields surged to 5.3%, and the odds of a rate hike doubled. Bitcoin couldn’t even hold 82,000.
Last night I said there’d be no buyers below 80,000, and this morning it started crashing toward that level.
A lot of people think shorting is about calling the top. I wasn’t guessing—I was doing the math. Once the numbers add up, the levels become clear.
I’m holding the rest of the position and waiting for 80,200. If 80,000 breaks, the next level to watch is 76,000. #9月cpi来袭原油美债走势如何
$BTC
Bitcoin just got slammed to 80,600, down more than 3,400 points since I opened the position. The first target, 82,000, was hit last night. Now we’re just 400 points away from the second target at 80,200.
From start to finish, this trade was based on one thing: money is too expensive, and nobody wants to chase the price higher.
With U.S. Treasury yields holding at 5.2%, Bitcoin tried to break through 84,000 four times and failed. That’s when I placed a short at 84,000. Last night, core CPI came in hotter than expected, Treasury yields surged to 5.3%, and the odds of a rate hike doubled. Bitcoin couldn’t even hold 82,000.
Last night I said there’d be no buyers below 80,000, and this morning it started crashing toward that level.
A lot of people think shorting is about calling the top. I wasn’t guessing—I was doing the math. Once the numbers add up, the levels become clear.
I’m holding the rest of the position and waiting for 80,200. If 80,000 breaks, the next level to watch is 76,000. #9月cpi来袭原油美债走势如何
$BTC