BTCUSD Possible Incoming Reversal

2019年8月7日

Fundamentally speaking in the long run, BTC like gold and other assets treated as risk-haven now will continue to increase in value if market continues to be risk-off esp with trade "talks" going nowhere and "rumored" recession coming within 2-3 years. But technical-wise, there's highly probable reversal soon at least in the short-run (within this month only) like what I'm seeing in metals esp if DXY forces its way up to 100 and equities start recovering from last Monday's correction.

Weekly:


Gold:


Silver:


DXY:



Confidence: B (bec this is not aligned with fundamentals and possibility of getting whipsawed, better to wait for the next "tail" to appear before shorting, or set a more conservative sell stop order below 12000 after bearish confirmation candles appear)

2019年8月16日

交易手动结束

Will close this for now to lock in current gains, might short again if I get a better entry this week and if DXY remains bearish in the short-run at least.