What's up everyone. Quick update for BTC.
So, I'm still in my Short from above when I tracked the Rising Wedge + Bearish Butterfly, and because that position is in profits with plenty of play room, I've decided to keep the position open to absorb the capped out funding in a few hours + double-down on futures (or alternative account) to hedge into a long position to get ready for the trend reversal.
DO NOT GET TRAPPED BY THE FUNDING!!!!
Funding is capped for Shorts, however there are a lot of indicators pointing towards bullishness, including a local double-bottom, 1D StochRSI, 4H Stoch, 1H Stoch, 15M Stoch as well as a Falling Wedge that was already confirmed, Ichimoku Clouds + we already got very close to the 0.5 Fib Level on this retracement we had today.
All of this + the high funding looks like a set trap to get some juice for a short squeeze.
My strategy for this is to stay neutral and practice risk management for optimum profits with this funding opportunity.
Stay frosty.
-Wolfie
So, I'm still in my Short from above when I tracked the Rising Wedge + Bearish Butterfly, and because that position is in profits with plenty of play room, I've decided to keep the position open to absorb the capped out funding in a few hours + double-down on futures (or alternative account) to hedge into a long position to get ready for the trend reversal.
DO NOT GET TRAPPED BY THE FUNDING!!!!
Funding is capped for Shorts, however there are a lot of indicators pointing towards bullishness, including a local double-bottom, 1D StochRSI, 4H Stoch, 1H Stoch, 15M Stoch as well as a Falling Wedge that was already confirmed, Ichimoku Clouds + we already got very close to the 0.5 Fib Level on this retracement we had today.
All of this + the high funding looks like a set trap to get some juice for a short squeeze.
My strategy for this is to stay neutral and practice risk management for optimum profits with this funding opportunity.
Stay frosty.
-Wolfie