BitcoinShort
Bitcoin US Dollar 1 D Bitfinex
I'm usually a Bitcoin Bull.
I hope that my main Bearish these is invalidated.
Today, at NYSE market close, I sold a considerable (for me) BTC position. I like to buy, hold and trade Alts for BTC but it's recently been off-putting to me.
Analysis:
Price action: Note all the red arrows and interaction with MA (Moving Average) Lines. Note the green colored text box w/ Bullish move with MA90, that had a small signal higher low.
Bear:
Today, this period, same red arrows, but consecutive lower lows.
Worse, I take the MA 200 more serious for a risk management standpoint, and hence trimmed exposure.
Bull:
Invalidation -- indicated by a text box. I'll rebuy an increment or two, but will look to ETH and key Defi Alts for better movement.
Realism:
1. Frankly, BTC has provided me little confidence (even fully accounting for its speculative nature) and has not preformed as a hedge or store of safety in any meaningful way. *** so, I suppose BTC price will go up - since it appears so grim to me.
2. Bear (hold cold stores only) or Bull (adding to BTC positions) I anticipate BTC will be a smaller % of my portfolio (almost 5 years now) with any major move (as I trim profits or trim exposure), as I look to inflation hedging strategies in tangibles (metals and agriculture) and energy.
I hope that my main Bearish these is invalidated.
Today, at NYSE market close, I sold a considerable (for me) BTC position. I like to buy, hold and trade Alts for BTC but it's recently been off-putting to me.
Analysis:
Price action: Note all the red arrows and interaction with MA (Moving Average) Lines. Note the green colored text box w/ Bullish move with MA90, that had a small signal higher low.
Bear:
Today, this period, same red arrows, but consecutive lower lows.
Worse, I take the MA 200 more serious for a risk management standpoint, and hence trimmed exposure.
Bull:
Invalidation -- indicated by a text box. I'll rebuy an increment or two, but will look to ETH and key Defi Alts for better movement.
Realism:
1. Frankly, BTC has provided me little confidence (even fully accounting for its speculative nature) and has not preformed as a hedge or store of safety in any meaningful way. *** so, I suppose BTC price will go up - since it appears so grim to me.
2. Bear (hold cold stores only) or Bull (adding to BTC positions) I anticipate BTC will be a smaller % of my portfolio (almost 5 years now) with any major move (as I trim profits or trim exposure), as I look to inflation hedging strategies in tangibles (metals and agriculture) and energy.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.