Long Bitcoin or HFSP
Updated
Some ordinary FUD news (hash rate drop, money laundering) and 10 billion wiped out in the past 24h. I longed previous ATH at 61k with stop at 55k but it didn't work as support and we fell right through it. Should have cut the position when the daily candle closed below the line but i was asleep. Not a bad loss, just 1% of trading account. Risking only 1-3% per trade, advising you to do the same. Reminds me of what loomdart said once on a podcast about have you should put your orders where your SL is if you are a beginner, would have worked well for me, lol. Previous weekly and daily supports that I had drawn earlier have worked beautifully as support, as you can see from the chart.
What comes next? I saw on twitter a good post about dips, if the dip is sudden and aggressive, you shouldn't be too worried about it -> probably an inefficiency and price will fill out the gap, i.e. the sudden dip. On the other hand if price is steadily sinking, that is when you should worry. I expect price to climb to at least 60k in the coming week, and it is possible this is what was needed to reset funding rates and continue towards 70-80k.
I don't use many indicators but 4h RSI went to 21 -> this is a massive buying opportunity in a bull market, definitely not expecting 64k to be the top of this cycle, more like 200-300k by end of the year.
I'm long BYBIT:BTCUSD on 2x leverage and if price dips I've got bids all the way down. No stop loss on this one. Target criteria: generational wealth, daily RSI > 75 and at least 2 green weekly candles in succession. Only up, pump it loomdart, laser eyes, zhupercycle and all that. Good luck comrades and remember, the only way to win in these markets is by staying alive.
What comes next? I saw on twitter a good post about dips, if the dip is sudden and aggressive, you shouldn't be too worried about it -> probably an inefficiency and price will fill out the gap, i.e. the sudden dip. On the other hand if price is steadily sinking, that is when you should worry. I expect price to climb to at least 60k in the coming week, and it is possible this is what was needed to reset funding rates and continue towards 70-80k.
I don't use many indicators but 4h RSI went to 21 -> this is a massive buying opportunity in a bull market, definitely not expecting 64k to be the top of this cycle, more like 200-300k by end of the year.
I'm long BYBIT:BTCUSD on 2x leverage and if price dips I've got bids all the way down. No stop loss on this one. Target criteria: generational wealth, daily RSI > 75 and at least 2 green weekly candles in succession. Only up, pump it loomdart, laser eyes, zhupercycle and all that. Good luck comrades and remember, the only way to win in these markets is by staying alive.
Note
Price crashed a bit more than I anticipated. Bought more on the dip to 47-48k. That las wick to 47k was a nasty sfp on the 4H chart (swing failure pattern). Median price on my 2x long now 51600. Daily RSI went to 29, lowest since the corona-crash (great buying opportunity). Nice pump today (5k daily candle as of this moment) and with negative funding on bybit, pretty sick. I recommend following Yodaskk on twitter, has some incredible fractals that have played out scarily well. Also check out woonomic and @caprioleio on twitter, they have great analysis and on-chain metrics/charts/analysis.
Everything in my opinion points to continuation of the bull-market and I expect
BTC to make a new ATH sometime in May.
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