Today's market is moving pretty fast, didn't have time to start a new post, so here's an update on this current short position.
1. After the previous short closed out, I re-entered a short around 76,000.
The logic is actually pretty straightforward.
When I built the long position near 63,000, the phase target was originally 74,000. I believe the bull market is back, and that judgment hasn't changed up to now.
But I've always thought this leg should be a choppy upward grind, not without any pullback, just blasting straight to 84,000 or even 90,000 in one go.
At least from a macro and market structure perspective right now, I haven't seen enough signals to support that kind of move.
So I re-shorted around 76,000.
After entry, price spiked up quickly to a high of 79,500 in a short time, and the planned stop-loss didn't execute as expected (I had set the stop in advance, but the system didn't fill it).
2. Right now, I've already reduced the vast majority of the short position.
Not because I've changed my view, but to control risk first.
If it keeps ripping higher from here in an extreme way, 82,000 and 84,000 are both possible, so there's no need to bet the full position that my judgment is definitely right.
The remaining position is under observation for now.
If the daily closes validly above 80,500, then I'll admit I'm wrong on this trade, close it all out, and take a break for a while.
If it ultimately can't hold here and turns weak again, I'll consider adding back some of the reduced shorts.
Chasing longs from this level doesn't interest me for the momentâthe risk/reward is already unfavorable.
3. Medium- to long-term, I'm still bullish on BTC, but being medium- to long-term bullish doesn't conflict with shorting locally.
With this short, I'm betting on a pullback during the uptrend, not turning bearish here and calling for a bear market again.
If wrong, admit it above 80,500.
If right, keep executing the plan.
I still believe we'll see $100k BTC by March next year.$BTC
#BTCBigAlert #BTCBigBoom #BTC90kPump #btc90k đ€đ€
1. After the previous short closed out, I re-entered a short around 76,000.
The logic is actually pretty straightforward.
When I built the long position near 63,000, the phase target was originally 74,000. I believe the bull market is back, and that judgment hasn't changed up to now.
But I've always thought this leg should be a choppy upward grind, not without any pullback, just blasting straight to 84,000 or even 90,000 in one go.
At least from a macro and market structure perspective right now, I haven't seen enough signals to support that kind of move.
So I re-shorted around 76,000.
After entry, price spiked up quickly to a high of 79,500 in a short time, and the planned stop-loss didn't execute as expected (I had set the stop in advance, but the system didn't fill it).
2. Right now, I've already reduced the vast majority of the short position.
Not because I've changed my view, but to control risk first.
If it keeps ripping higher from here in an extreme way, 82,000 and 84,000 are both possible, so there's no need to bet the full position that my judgment is definitely right.
The remaining position is under observation for now.
If the daily closes validly above 80,500, then I'll admit I'm wrong on this trade, close it all out, and take a break for a while.
If it ultimately can't hold here and turns weak again, I'll consider adding back some of the reduced shorts.
Chasing longs from this level doesn't interest me for the momentâthe risk/reward is already unfavorable.
3. Medium- to long-term, I'm still bullish on BTC, but being medium- to long-term bullish doesn't conflict with shorting locally.
With this short, I'm betting on a pullback during the uptrend, not turning bearish here and calling for a bear market again.
If wrong, admit it above 80,500.
If right, keep executing the plan.
I still believe we'll see $100k BTC by March next year.$BTC
#BTCBigAlert #BTCBigBoom #BTC90kPump #btc90k đ€đ€