My BTC short position is basically trapped.
This time, the pattern, technology, and data have triumphed over news and psychological expectations.
According to the Chande theory, the third buy at 107 is the best entry opportunity of the week.
Based on normal analysis, I should be going long this week, considering how actively institutions are increasing their positions.
But.
11w has faced multiple obstacles.
Orders above see 12w, 13w have potential but no certainty.
And once it drops, it might look at 7.
So the short position I chose, now seems, the bulls have the advantage.
My short is already trapped.
Fortunately, the shorts in altcoins like h, bid, etc., are being covered.
Plus, I haven't lost much on the daily short-wave trades with fans.
Currently,
My large BTC short position, the loss is still at 115000, let's see how it goes, if it loses, I'll accept it. No more analysis on this position.
Of course, the bulls have the advantage now.
But I won't chase recklessly, nor will I short.
Because this wave of upward momentum hasn't shown a new pattern yet, and since it's at a new high, you can't see where the top is.
From a wave perspective, one might guess 118~120.
From the liquidity midpoint, this wave is roughly concentrated at the current 113000 position.
However, there is still liquidity above.
Let's observe the new pattern first, then decide whether to go short or long.
I'll play with altcoins for now.
Recently, many altcoins have shown unusual movements and objective gains. It can be said that it's the small altcoin season.
Playing altcoins carries high risk. Because of low liquidity, the volatility is large.
But at the same time, if you grasp the entry points well and track the movements of the whales, controlling the risk-reward ratio is an opportunity for small retail investors.
In altcoins, a day's volatility might equal half a year's volatility in BTC.
