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#Ethereum Monday we will get new ATH. 4110 was breached after three years and it has been selling for more than three years most people have sold their Eth and only shorts are there to add sell pressure. Probably reach 6000 by the end of month.
Once #bitcoin crossed 116.5 and took it as support entire bearish thesis has gone out of the window.
Once #bitcoin crossed 116.5 and took it as support entire bearish thesis has gone out of the window.
Next week is CPI week. We are at range high. We nned convincing break of thia range high and we will goto ATH.
Bearish retest of previous support. Taking profits from some call options. Adding to put options.
There is short squeeze going on. OI going down spot CVD going up, price going up with positive funding.
Just as I predicted. There is 1.5B shorts to be liquidated if we goto 118k.
This is thw difficulty in trading bearish trends. You know the trend is bearish, you have to be shorting to get advantage of that. If the trend is up most of can buy spot and chill, you wont get liquidated and bitcoin is not going to zero. But when you short you need to have a stoploss otherwise your loss is infinite (in a traditional market). So once enough shorts accumulate anyone with sizeable capital can liquidate traders by intiating short squeeeze.
Thats why in bearish trends there is very convicing rallies occur knocking off your trade.
I am short term bullish until Tuesday then bearish.
Just as I predicted. There is 1.5B shorts to be liquidated if we goto 118k.
This is thw difficulty in trading bearish trends. You know the trend is bearish, you have to be shorting to get advantage of that. If the trend is up most of can buy spot and chill, you wont get liquidated and bitcoin is not going to zero. But when you short you need to have a stoploss otherwise your loss is infinite (in a traditional market). So once enough shorts accumulate anyone with sizeable capital can liquidate traders by intiating short squeeeze.
Thats why in bearish trends there is very convicing rallies occur knocking off your trade.
I am short term bullish until Tuesday then bearish.
#bitcoin
If you have seen Saylors tweets, there is a possibility that he will pump this in Sunday and Monday. It will be helped by large number of shorts. Nearly 1.5B shorts are waiting to be anhilated by a Simple 5% move up.
If you have seen Saylors tweets, there is a possibility that he will pump this in Sunday and Monday. It will be helped by large number of shorts. Nearly 1.5B shorts are waiting to be anhilated by a Simple 5% move up.
#bitcoin trading plan
1. We have broken down from the range low and tagged previous ATH
2. Most of the news catalysts are over
3. Next two months are historically most bearish months for bitcoin.
4. Old OG whale selling has been the hallmark of previous local tops.
So we may see a small mean reversion pump in Sunday, and correct further into next week.
Price action in this cycle is elevator up and stair down, contrary to typical market behaviour probably due to price agnostic treasury companies buying bitcoin. So the downward movement will be choppy.
I donāt think we will get new ATH until October.
Trading plan: scalp long into monday open then short or add to shorts upto Monday US open.
Invalidation 4H close above 117k.
My local bottom target is 107k which is FIB 61.8 from previous local bottom to ATH.
$BTC
1. We have broken down from the range low and tagged previous ATH
2. Most of the news catalysts are over
3. Next two months are historically most bearish months for bitcoin.
4. Old OG whale selling has been the hallmark of previous local tops.
So we may see a small mean reversion pump in Sunday, and correct further into next week.
Price action in this cycle is elevator up and stair down, contrary to typical market behaviour probably due to price agnostic treasury companies buying bitcoin. So the downward movement will be choppy.
I donāt think we will get new ATH until October.
Trading plan: scalp long into monday open then short or add to shorts upto Monday US open.
Invalidation 4H close above 117k.
My local bottom target is 107k which is FIB 61.8 from previous local bottom to ATH.
$BTC
Strategy that I apply now to control emotions is whenever I made significant profit or loss or I am not sure of Marlet direction, I lock my entire trading capital except for few 100$ in a btcusdt dual investemt ( I choose lowest strike price and duration depends on my emotional level) then cover strike price with a put option.
Dont listen to whales look at what they do. Almost all tops in past is markedby insane price predictions by whales and at the same time selling large number of #btc .
Mike Novogradz (Bitcoin OG and a whale) is the owner of Galaxy Digital and why is he selling if he beleive his own predictions. If he is doing for a client, he can get the bitcoin and keep it if he beleives in what he says.
Microstrategy is offerring more and more degen products to keep the wheel running, recent offering gives your 9% APR. How can it give you 9% return without selling BTC.
If you look at the bitcointreasury.net most of the small treasuries stock price has fallen to ATL levels and they cannot issue new debt to buy bitcoin. There is a good chance at least some of them getting paper handed and dump btc when things start going south adding fuel to the fire.
Mike Novogradz (Bitcoin OG and a whale) is the owner of Galaxy Digital and why is he selling if he beleive his own predictions. If he is doing for a client, he can get the bitcoin and keep it if he beleives in what he says.
Microstrategy is offerring more and more degen products to keep the wheel running, recent offering gives your 9% APR. How can it give you 9% return without selling BTC.
If you look at the bitcointreasury.net most of the small treasuries stock price has fallen to ATL levels and they cannot issue new debt to buy bitcoin. There is a good chance at least some of them getting paper handed and dump btc when things start going south adding fuel to the fire.
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