bitcoin:native shorts Reminder that I still hold, reminder September open may pump, but September will likely be red. Alright, another daily open approaching, another day of holding our shorts. Shouldn't have to say this every time, but you all like reminders so I will provide. Where we rode a massive move up from 69k all the way to 78k, we have flipped most of those profits into shorts 10 days ago and took first profits at our identified TP1 support zone. From there, price has been holding that support zone around monthly open neatly. I just wanted to highlight that this type of sideways PA is all normal during monthly transition. I mean it's just perfectly ranging inside the value area, tapping VAH and VAL repeatedly. Great for scalps. And regarding our shared swing trade here, it's the consolidation during the ongoing fake move + real move. And so I highlighted that it's just patient mode for our shorts, we are since awaiting the September "fake pump" phenomena until TP1 support finally breaks. Quick note on the sentiment Where when we first took the shorts (about 7 days ago), essentially "everyone" was bull posting, we certainly are seeing my short idea or similar pullback ideas go around + calls for lower or "chop". That's very normal inside our value area rotations, and I just wanted to highlight no concern for me since this isn't bearish sentiment, it's sentiment of boredom and confusion. Nuances are small but boredom is very typically dominated by flip flopping, vague opinions and "careful" mentions of levels, where some people are vaguely stating "a pullback" is coming without much clarity. That's not overconfidence, that's sub-par confidence and to me sentiment wise, that's developing boredom. Like I always say, calls != trades, and we're not seeing extensive and overconfident shorting happening so that still makes me at ease in my shorts. So sentiment conclusion is simply boredom, which is what we want in an environment of an ongoing fake move + real move following. My actions (reminder) Hereby the reminder, my call is given, but most importantly, my ongoing trade idea is shared. Never sharing just calls without actions, they are useless. We shared a short entry, as an expression of action "what to do with the call". Only trades make my daily bread and butter, and for the sake of legacy and proper education, I like to share them. Summary;TLDR Refer to my short trade entry posted 7 days ago, with no concern for it at the moment despite the "idea" of a pullback spreading somewhat as explained in the section sentiment. Meanwhile, we continue to rotate quite respectfully in the local range Value area, a great time to scalp. Enjoy.
AstronomerShare

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.