Hedged Positions / Retracement to 6400
Howdy Y'all,
Today I'm updating this chart, somewhat hindsight from the drop at 7400. We've crawled our way through the early 7000 price range and honestly I haven't been a fan of the crawling pace to break 7800.
I had hedges placed at 7320 and 7520 to prepare for the drop - of course the 7520 didn't hit before last nights drop
Currently my goal is to pick up new BTC up on the south side Point of Control (red line) in the lower grey box. However I am longing 6838 with a stop loss a little lower than 6750. Looking at this chart I'm reading that 6800 is a high volume area. If bitcoin is going up with an alt season this is a great spot for it to bounce. I'll risk 1% of my account on this hypothesis - I think Bitcoin is at a great price to be hedged bullish.
Would love to hear y'alls thoughts and comments! Thanks for the time
Today I'm updating this chart, somewhat hindsight from the drop at 7400. We've crawled our way through the early 7000 price range and honestly I haven't been a fan of the crawling pace to break 7800.
I had hedges placed at 7320 and 7520 to prepare for the drop - of course the 7520 didn't hit before last nights drop
Currently my goal is to pick up new BTC up on the south side Point of Control (red line) in the lower grey box. However I am longing 6838 with a stop loss a little lower than 6750. Looking at this chart I'm reading that 6800 is a high volume area. If bitcoin is going up with an alt season this is a great spot for it to bounce. I'll risk 1% of my account on this hypothesis - I think Bitcoin is at a great price to be hedged bullish.
Would love to hear y'alls thoughts and comments! Thanks for the time
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