Markets are extremely over-extended and now showing a pretty big Bearish divergence. Looking in the past there haven't been many fakeouts with these indicators and price action. Not going to short or buy puts, but moving 1/3 of my 401(k) into stable value fund. Not sure where i'll "Cover" or add back if it keeps going up, but for now looks like a correction is in...
Beautiful example of a break and retest of a tendline/Symmetrical Triangle. Don't always get the retest, but this time it did. Shorting here.
Not positive what Stop/TP should be but i guess a good place is above recent high for stop and high liquidity low to TP? Only an R of one. If this was during the day i would probably just monitor the trade and let it run...
The way price has been behaving around ATH (Divergence) as well as being way over extended in most indicators on HTF (Bolinger Bands, Supertrend, etc...) I think we still make a big correction over the next few months. I have been going back and forth buying and selling on CB like a mad man, fees are eating me alive.
I am going to put this in writing so i don't...
This trendline that spans all the way back to 2019 seems like a perfect opportunity to load up on some LINK.
Will sell back to BTC if trendline is broken with conviction and closes below.
