Short BTC Entered at $36.8 (1/2 position)
Updated
UPDATED SHORT ENTRY for 3.5 R/R
1/2 at 36.8
stop at +38 (active after Powell talk to avoid stop out by tails)
target remain as previous post 32.8 and 31+
Will watching for another 1/2 position
1/2 at 36.8
stop at +38 (active after Powell talk to avoid stop out by tails)
target remain as previous post 32.8 and 31+
Will watching for another 1/2 position
Trade closed manually
Scratched position at 36.6k at time of writing,to enter again around mid 37k
Note
Strong move yesterday probably killed both long and short positionsPowell said yesterday that inflation is “well above” where the Fed would like to see it while describing policy as “significantly restrictive.”
BTC got sold decent volume at 38k while ETH jumped 12% to hit 2023 high at 2130. So Big caps are playing catch up ? mini alt season ?
Likely not much action with BTC toward the end of week, so I'll cover more details in the weekend newsletter
Trade active
Short 1/2 size opened at $37.7This potentially form a double top / wyckoff distribution / or an expanded flat elliot wave correction (wave B of ABC)
More details coming in another post
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