Just want to give a quick update about BTC price, since mid of Oct, BTC has been going up like a rocket, people who were bearish now getting confused, people who were early in the trend are taking profit and worrying about the 30-40% pullback. People who are in the sideline hoping the price to drop to catch the train.
What surprised me is that even lots of good traders are calling the top and start taking profit which I think nothing wrong with that to de-risk your position.
But for me, as a price action trader, if you look at the daily time frame, we are in the tide bull channel, meaning we don't sell or short, we keep longing every time price touch the bottom channel, there is no evidence saying we are topping, So I will keep holding my position until I see bearish price actions, I believe the mass majority of the trader are wong even some of the good traders out there.
I will give another update once I am ready to sell.
What surprised me is that even lots of good traders are calling the top and start taking profit which I think nothing wrong with that to de-risk your position.
But for me, as a price action trader, if you look at the daily time frame, we are in the tide bull channel, meaning we don't sell or short, we keep longing every time price touch the bottom channel, there is no evidence saying we are topping, So I will keep holding my position until I see bearish price actions, I believe the mass majority of the trader are wong even some of the good traders out there.
I will give another update once I am ready to sell.
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