Looks like a textbook dump. As mentioned in my other trade idea currently shorting BTC with short term target of 24700 but potentially lower. What we are seeing now is a sign of trend reversal and it may dive lower than this.
Comment
⋅
Works fine
Comment
⋅
Another entry at 28020
Comment
⋅
7 entries so far
Comment
⋅
Daily close soon. Everything is looking good for now. As long as we are below 28900 it's zero risk for me
Comment
⋅
Possible that we will see BTC wobble for a bit now just like when we were at 25200 for the first time. Stops slightly above the top. If we breach it and go 30k+ renew till 32k. At the moment still unlikely but strategy for such scenario needs to be in place
Closed half of my position. I bet that we gonna see the second scenario playing out as it takes too long to dump. Still keeping the rest with stop above 29200. Have orders placed all the way to 32k stop at 32500
Comment
⋅
Quick update here. Like I said the second scenario plays out but I'm more focused on indicies at the moment. Betting that the top for BTC is somewhere at 31500. Have very small short position to which I may add with stop at 32500. Currently more exposed to US500 short with stop above 4200. Lots of potential triggers this and following week with cpi, fomc and bank earnings. Possibility of major crash in May when I look at s&p monthly chart but we'll see. Markets will turn very volatile soon so managin risk accordingly
@Ajpor, have a small position cause I need to see what will happen around 31500. Currently long algo and bnb
whitebird77
⋅
maybe is weekends. dump starts during the news.
eryklct
⋅
@whitebird77, yesterday we've hit top of megaphone pattern on a daily chart but there was no big move to the downside just a minor one. It may be pushed to the upside tomorrow because indicies were on an epic run and btc is likely to catch up