Rebound with 3 potential targets.
Updated
Buttcorn pulled back.
Headline:
Goldman Sachs cancelling plans to open trading desk. Article meat; Goldman still has plans to open trading desk, but needs to get custody solutions up and running first.
Most organic rebound we have had this whole bear market since August 13th.
Market Sentiment went from really bullish to confused and angry. Engagment low today.
CNBC counter indicator. High strike rate. Bearish tweet @5pm
Hidden Bull divergence.
Market abosorbing shorts really well. Disbelief?
Shorts in @ ~7200. Been open for 3 days.
Bitmex funding: Longs pay Shorts 0.01% Q8H.
Red Fib: Bull Trend Fib Extension
Blue Fib: Fib retracement since Genisis block ($2.22 - $19,891)
Yellow Fib: Fib retracement of last major down swing. (July 24 - Aug 13) ($8507 - $5858.60)
Black Horizontal: VPVR since Genisis block, significant levels.
Headline:
Goldman Sachs cancelling plans to open trading desk. Article meat; Goldman still has plans to open trading desk, but needs to get custody solutions up and running first.
Most organic rebound we have had this whole bear market since August 13th.
Market Sentiment went from really bullish to confused and angry. Engagment low today.
CNBC counter indicator. High strike rate. Bearish tweet @5pm
Hidden Bull divergence.
Market abosorbing shorts really well. Disbelief?
Shorts in @ ~7200. Been open for 3 days.
Bitmex funding: Longs pay Shorts 0.01% Q8H.
Red Fib: Bull Trend Fib Extension
Blue Fib: Fib retracement since Genisis block ($2.22 - $19,891)
Yellow Fib: Fib retracement of last major down swing. (July 24 - Aug 13) ($8507 - $5858.60)
Black Horizontal: VPVR since Genisis block, significant levels.
Note
More shorts added.4HR Hidden Bull Div valid until under $5858
More bearish sentiment.
Supply 2 filled.
Will concede @ $6105
Note
Two postition entryAverage entry: $6675
Stop: $6390
Stop: -4%
Targeting: $6639 and $6670
The R&R on this was really bad.
Left open overnight for breakeven target. Expecting buyers to come in and shorts to close in profit. No buyers coming in to save this. Looks weak. Should cut positions now.
Was expecting more organic price action on the pullback. Just faceripped down hard.
Was already expecting a pullback. Should have shorted with tight stop. That trade would have had a better R&R. Shorts were high though and had been open for a while.
Flat was probably best.
Trade closed manually
Closed @ $6440 -3.5%Could have been worse on a rip like that.
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