Implementing a Trading Plan Based on a List of Outcomes for BTC
The list of probable outcomes for btc is starting to weigh to the bearish side and I'll tell you why.
Retail is trapped now. There is no reason to loop in any more fresh money, since so many will be looking to sell their alt coins at just break-even at this point. It is probable that this massive expanding flat correction will lead to its completion over the next few months.
A list of plans to execute according to price action:
-If we move down to multi-week ascending support line at 45.7k, long with a tight stop.
-If we break said line, short until 44k range.
-Long at 44k, short again in the 49.5k range.
-If we move up to 48.3k in the very near future, short it down to support
-If we break 48.5k with conviction then long to 49.5k range, begin looking for short
-Short until 37k range, then long the bounce to 53k.
-Short again at 53k; if we break it however then flip long and reevaluate at 57k, 63k and 72k
-Beware another 4k breakout/fakeout move to 57k.
-Watch for a reaction from the 35k range as well
-If bull case plays out close long at 72k and short with absolute and total impunity.
-If bear case plays out close short at 30k support, or HODL short until 21-26k.
-Long with absolute and total conviction if this results in a massive bounce in the 20s with massive volume.
*If we drop below 20k, start collecting pink Wojak emojis. Bear season has become long-term bear market.
IMHO this scenario is unlikely, however we are covering all bases here.
Retail is trapped now. There is no reason to loop in any more fresh money, since so many will be looking to sell their alt coins at just break-even at this point. It is probable that this massive expanding flat correction will lead to its completion over the next few months.
A list of plans to execute according to price action:
-If we move down to multi-week ascending support line at 45.7k, long with a tight stop.
-If we break said line, short until 44k range.
-Long at 44k, short again in the 49.5k range.
-If we move up to 48.3k in the very near future, short it down to support
-If we break 48.5k with conviction then long to 49.5k range, begin looking for short
-Short until 37k range, then long the bounce to 53k.
-Short again at 53k; if we break it however then flip long and reevaluate at 57k, 63k and 72k
-Beware another 4k breakout/fakeout move to 57k.
-Watch for a reaction from the 35k range as well
-If bull case plays out close long at 72k and short with absolute and total impunity.
-If bear case plays out close short at 30k support, or HODL short until 21-26k.
-Long with absolute and total conviction if this results in a massive bounce in the 20s with massive volume.
*If we drop below 20k, start collecting pink Wojak emojis. Bear season has become long-term bear market.
IMHO this scenario is unlikely, however we are covering all bases here.
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