Bitcoin Wyckoff - Should I Stay or Should I Go?
Updated
Gun to head I will trade the chart as is. However, a little uncertain here so I wont be making a trade. Just sharing an idea and my thoughts.
NO TRADE ZONE FOR ME, what are your thoughts? Any ideas?
- Hong Kong ETF - Yes I understand the whole point of T.A/Wyckoff method is to ignore Fundamental analysis, but I find it quite difficult to ignore sometimes.
- The AI bot that said to short 70.1k when I was bullish (and ultimately charted and stuck with a bearish outlook) is now slightly bullish (price is 64.5k as I type this)
- The time spent on this final support line should be a few days at minimum, so I don't see the rush, can afford to wait
- Halving coming up, the ultimate priced in/not priced in discussion. Not a huge factor but something I do keep on my mind
- The longer time frame (THE PURPLE BOXES) would make sense for this to have been bottom if we have a classic sideways Wyckoff re-accumulation/distribution.
- Swap fees are bearish. Meaning traders are more aggressive with shorting, I generally don't feel good about following the crowd.
NO TRADE ZONE FOR ME, what are your thoughts? Any ideas?
Note
The long part played out, but still not confident to short here. I'll execute patience a little longer.Note
OPENED SHORT: $66,000Note
Current Price: $63,400Status: Still short from $66,000
Trade closed manually
Current Price: $64,200Status: Closed short from $66,000 at $62,000.
Pretty annoying that I can't update idea on mobile app, only on desktop. I won't be posting my personal trades updates anymore.
I'll be shorting again pretty soon again.
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