On the TA side:
On the news side:
I closed my long position opened during the ascending triangle but I am not taking a short position until the official decision of the SEC on the ProShares ETF.
There is still a chance - that I consider small - that a denial of the ProShares ETF will have no effect on the market and trigger a short squeeze.
- BTC just broken the ascending triangle
- RSI trend is broken
- EMA 5 (4h) crossed EMA 50 (4h)
On the news side:
- The ETF of ProShares will most probably be denied by August 23rd while people sill hope for an approval
- There are still too much optimism in this bear market making me think we did not touch the bottom
I closed my long position opened during the ascending triangle but I am not taking a short position until the official decision of the SEC on the ProShares ETF.
There is still a chance - that I consider small - that a denial of the ProShares ETF will have no effect on the market and trigger a short squeeze.
Note
A short squeeze is still possible but BTC will have to break an important resistance level @ 6900$Note
No short squeeze finally Short positions on Bitfinex
Long positions on Bitfinex
Trade closed manually
I closed my trade at least temporarily for the reasons mentioned on the graph below
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.