Today someone said to me: Bitcoin is not performing well. And I open the charts and see it at almost ATH.
We barely missed the longterm target by less than 1% and we have a similar situation like in $SPY.
I have reasons to be bullish. I have a voice which is getting cautious, at least if we dont stay up this month. Worst case would be a drop under 90k, it would mark the top for a longer time in my eyes.
Against all the sayings 'its healthy if we go down, after we can have a rally', my opinion is: we should stay UP this month - then we can flash a longterm trend (until end of nov, a bit longer than
SPY) and end up in a range from 155k to 260k.
Im just long spot and my capacity is maxed out for crypto (Im long
ETHUSD and 
BTCUSD only),
IF we get a bullish continuation in weekly (which will be clear over next 2 weeks) I go trough
MSTR into more exposure, even if I hate the stock.
My outlook right now: if we can stay up this month we will probably get a nice rally and top end of year. I hope Im right.
best wishes for your trades and risk management, peace!
We barely missed the longterm target by less than 1% and we have a similar situation like in $SPY.
I have reasons to be bullish. I have a voice which is getting cautious, at least if we dont stay up this month. Worst case would be a drop under 90k, it would mark the top for a longer time in my eyes.
Against all the sayings 'its healthy if we go down, after we can have a rally', my opinion is: we should stay UP this month - then we can flash a longterm trend (until end of nov, a bit longer than
SPY) and end up in a range from 155k to 260k. Im just long spot and my capacity is maxed out for crypto (Im long
ETHUSD and BTCUSD only),IF we get a bullish continuation in weekly (which will be clear over next 2 weeks) I go trough
MSTR into more exposure, even if I hate the stock. My outlook right now: if we can stay up this month we will probably get a nice rally and top end of year. I hope Im right.
best wishes for your trades and risk management, peace!
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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.