Long the fear, sell the fomo
Updated
- 200 MA Weekly bouncing the price twice (red)
- Sell volume drying
- RSI bounced above 2015 support and leaving oversold zone
- MACD crossed bullish
Long now, and then short the fomo when 50 and 128 MA weekly death crosses (yellow, blue), at 5200 target by week of april 22.
Long idea invalidated if a weekly close below 200 MA occurs.
Short idea invalidated if a weekly close above 6500 swing high occurs.
- Sell volume drying
- RSI bounced above 2015 support and leaving oversold zone
- MACD crossed bullish
Long now, and then short the fomo when 50 and 128 MA weekly death crosses (yellow, blue), at 5200 target by week of april 22.
Long idea invalidated if a weekly close below 200 MA occurs.
Short idea invalidated if a weekly close above 6500 swing high occurs.
Trade active
Stop raised to 3700 after the dumpTrade closed: stop reached
stopped in tiny profits, waiting for a retest of the uptrend line to get in againTrade active
Long the fear part has played out perfectly, my bad to have rised my stops too much, but i've reentered the trade after some tries because the idea was never invalidated (weekly close below 200 MA never happened)I've manually closed all margin longs, and i'm unloading my spot bags here till 5200..
Lets see if the sell fomo part plays out, wait for confirmation of weakness when death cross happens at 5300.. be carefull because it could go up as high as 6000, so it's important to see weakness signals before opening a short, use tight stops, or a small leveraged position so you can add all the way up to 6k.
Let's go!
Note
Long target was fully meet, although timing was not good, it came earlier than expected.Due this, i'll handle this escenario: boring sideways hitting stops for longs and shorts, then a wick just into the death cross for the big jump into abyss.
Account fully hedged, and small fraction (1,6x measured in usd) of the short opened sitting at 5260, looking to increase and scalp for a price improve if this boring sideways plays out.
Order cancelled
I don't see reasons to stay short atm, technically nor fundamentally. Neither i see fomo yet so i don't feel good shorting the market rn.I'll create a separate idea for shorting when i feel it's the time, possibly when the death cross comes if we are not far above from that price.
Trade active
Catalyst in place, bitfinex exposed as a scam in USAEasiest short ever
tight stop at 5200, very good potential profits and probably we are just at the local top so you won’t see 5200 any more in a long time.
Note
Going with high leverage and 5175 as stop, hopefully the new day will continue the dump and fist bounce will occur far from here.Note
Scam week on weekly candle Trade closed: stop reached
rekd in the short idea part, fomo is crazy.. still a correction is pending
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