BTCUSD: FuturologyThis is another very prophetic post, like my ETHBTC one. I think that we will get an approval by the SEC, but, since the ETF won't bring money into Bitcoin right away, price will fall back to weekly support at 1139 give or take. Bottoming there, while big players accumulate positions, until the market is ready to trend up vigorously again.
The market is likely to frustrate the most people, so, I think first, it'll spook the short sellers by going up after the news, to then fall and stop out all longs, right before bottoming for some time.
My game plan, I'm holding my positions for 1 year at least, so, I'll trade around them using margin. My preferred vehicle to hedge the BTC decline is ETHXBT longs. I'll be looking to accumulate a hefty ETHBTC long position, in the order of 30%, when we have a decent enough retracement in it. It's close to weekly support, and in a weekly uptrend, with potential for a monthly rally after May, which would align with this prediction taking place, if ETHEUR rallies or doesn't fall, while BTC falls or doesn't rally as much.
Reccomendations: If conservative, sell down from 50% to 20% account long in BTCUSD and do nothing. Sell also down from 50% to 20% account in ETHEUR and do nothing. Then add back on dips or if they keep trending up proving you wrong.
If more brave, follow my game plan. Don't sell but hedge the decline with ETHBTC longs when safe.
Best of luck!
Cheers,
Ivan Labrie.
