Bitcoin Trades this Morning
Traders,
As you know, my original target is 31,600. Obviously, from the chart, you can see that 30k is significant resistance as well. Because of the quick pump this morning due to spot ETF approval news, I sold half my BTC at that 30k level. After dropping back down I decided to re-enter at 28k thinking that we'll now use that 200-day SMA for support. Overall target still remains 31,600, however, I may make another play at 30k pending price action, volatility, etc? SLs are 24,500 but honestly, I am considering taking them out completely and simply DCA'ing in another 10% of the total port for every level down we hit (if we get that lucky). We are getting close to moon time now for BTC and I don't want to be shaken out on the way down the way shorts were liquidated just this morning. I'll let you all know if/when I remove my stops.
Best,
Stew
As you know, my original target is 31,600. Obviously, from the chart, you can see that 30k is significant resistance as well. Because of the quick pump this morning due to spot ETF approval news, I sold half my BTC at that 30k level. After dropping back down I decided to re-enter at 28k thinking that we'll now use that 200-day SMA for support. Overall target still remains 31,600, however, I may make another play at 30k pending price action, volatility, etc? SLs are 24,500 but honestly, I am considering taking them out completely and simply DCA'ing in another 10% of the total port for every level down we hit (if we get that lucky). We are getting close to moon time now for BTC and I don't want to be shaken out on the way down the way shorts were liquidated just this morning. I'll let you all know if/when I remove my stops.
Best,
Stew
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
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