Short

Short the bounce

Updated

Was eyeing a higher target but I think this is a good place to enter or build an entry.

I still expect some sharp downside left this week, if the chart lands as plan this would be a medium term bottom imo. It doesn't mean we are breaking the 31k high, in fact I believe this is our 2023 high at 31k. For me it does mean we can run back up near those upper levels before falling into late Q3-Q4.

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Adding an alternate landing spot.. now that we fully filled.

Lets see which is the correct path.

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SL 27600 is in place

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Best way to describe what I think were seeing now

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There is a possible path back under 29k developing here. The really grinding it high and I don't know if were trying to shake people off or we holding up here for those little alt gains. Either way becareful.

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As for the discussions on the top price for 2023 as I mentioned in this post. We clearly broke the 31k high.

So I will assume we still on course for this.

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Alternate path from the July 4th post.

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I would take July 4th post and remove a landing at 28300-28500 off the table. This has a red week written all over it for me.

Lets see how 26100-400 reacts

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Its a long as stated on July 4th post.. just took forever.

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Not really sold on the short but think it’s worth the opportunity

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Short is looking good from the high.. decent probability this is going to cut deep.

Just playing scenarios here.

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This sideways trading is very annoying..

Anyways it looks long

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Trade closed: target reached

closing post.. but possible scenario above. Lets see.

MrPipa

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