BTC Break above long term trend line unlikely to succeed
Diupdate
Never say never but I'm gambling short on this breakout. I had a giant purple rectangle in this area on my chart labelled "accumulate shorts."
This is where all the mind training comes into play because this is a very uncertain looking area to enter short, but I'm just going for it.
The FOMC meet tomorrow is coming on the wake of higher than expected wholesale inflation.
We're having higher rate hikes longer, deeper recessionary period etc, so I've changed my outlook on BTC price a bit more bearishly.
Obviously account for your own levels of risk tolerance, but I'm going short here. Confirmed on the trend break under 17000.
I'll have to be really patient on this if it breaks over 18k. You can't predict the future. So keep watching, stay sharp. Figure out the fed messaging etc as fast as you can tomorrow.
BTC shows a nice liquidity grab to the upside in a fairly unexpected zone. You can eye it as a break on the long term downtrend which is the most surprising part about the price movement here. I'm following my plan and acquiring short.
Be careful. It's going to be a really volatile few days. It's probably best to wait like 48 hours after any central bank news drops to find more sanity but there is always opportunity in volatile moments.
This is where all the mind training comes into play because this is a very uncertain looking area to enter short, but I'm just going for it.
The FOMC meet tomorrow is coming on the wake of higher than expected wholesale inflation.
We're having higher rate hikes longer, deeper recessionary period etc, so I've changed my outlook on BTC price a bit more bearishly.
Obviously account for your own levels of risk tolerance, but I'm going short here. Confirmed on the trend break under 17000.
I'll have to be really patient on this if it breaks over 18k. You can't predict the future. So keep watching, stay sharp. Figure out the fed messaging etc as fast as you can tomorrow.
BTC shows a nice liquidity grab to the upside in a fairly unexpected zone. You can eye it as a break on the long term downtrend which is the most surprising part about the price movement here. I'm following my plan and acquiring short.
Be careful. It's going to be a really volatile few days. It's probably best to wait like 48 hours after any central bank news drops to find more sanity but there is always opportunity in volatile moments.
Catatan
because I can't predict if bitcoin will go to 9k or 20k from here, I'll probably cover this short with a long if it turns against me.Catatan
Could also just wait for a nice reversal - this position is tended to be a long slow burn. Likely the CPI print will give a little boost to markets. I always suspect the message to be hawkish from the fed, so tomorrow will almost certainly be a shit show.Catatan
Doing well on this. Took some stomaching the run up into the feed meet but we makin' money.
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