$BTC :
I shorted at $86,200 and am placing additional short orders between $86,500 and $89,500 to build a swing short position. My target remains $79,000. Once we reach that level, Bitcoin’s reaction will determine whether I take profits on the short or keep the short open.
The deepest correction I’m considering is $69K–$71K, and no way lower than that. The short from $86,200 has worked so far, but I’m taking this one level at a time. First $79K, then I assess whether support holds and the bull market continues, or whether a deeper correction becomes more likely, and based on the Bitcoin decision at 79k I can tell what I am expecting next, either the continued downside move or the reversal and continue the bull market with new local heights.
I shorted at $86,200 and am placing additional short orders between $86,500 and $89,500 to build a swing short position. My target remains $79,000. Once we reach that level, Bitcoin’s reaction will determine whether I take profits on the short or keep the short open.
The deepest correction I’m considering is $69K–$71K, and no way lower than that. The short from $86,200 has worked so far, but I’m taking this one level at a time. First $79K, then I assess whether support holds and the bull market continues, or whether a deeper correction becomes more likely, and based on the Bitcoin decision at 79k I can tell what I am expecting next, either the continued downside move or the reversal and continue the bull market with new local heights.
