$BTC - My Next Plan As you guys know, I closed my short this morning. My plan from here is pretty simple. If Bitcoin pushes above the previous $82.2k high, I’ll look for signs of selling pressure and potentially another short opportunity. If price moves lower without taking that high, I’ll just wait since i’m not interested in entering in the middle of the range. I’ve also extended the daily 200 EMA and 200 MA. If we do eventually move lower, those will be the next major areas I’ll be watching to see how price reacts. For now, I’d rather wait for the extremes than force a trade somewhere in between. And as always, I’m just sharing what I’m doing and how I’m approaching the market. Make your own decisions based on your own plan and risk.

$BTC - The Two Things I'm Looking For Going to see what happens if price ends up pushing above the blue line and sweeps these recent highs. The main thing I’ll be watching is: 1. Whether sellers step in just above the blue line and push price back below the area. 2. If buyers remain in control and push price higher toward the descending red trendline (which is also where the 0.786 fib is), to see whether sellers can take control there instead.

$BTC - May Be Closing My Short Soon Just giving everyone a heads up that I may fully close my short position soon. Price is spending a lot of time around this area and slowly pushing higher. If we don't see a meaningful reaction soon, or price continues to slowly climb, I'm perfectly fine closing the position around breakeven for a very small loss and potentially re-entering later. If price pushes higher, it may simply give me a better price to re-enter from. I've been in this trade for a while, but that's not a reason to stay in it. I'd rather reassess with a clear head than hold onto a position just because I've already spent weeks in it.

This is more for a quick move up, not really for a slow grind up.

$BTC - Potential Take Profit Partials Below is currently the general areas i'm looking at to take some partial profits. https://t.co/yYNFY0prnm

$BTC - Time to hopefully let my short finally print some 💰 Needed a lot of patience with this https://t.co/OFp6RTXhY6

$BTC - My Short Position & Lessons Learned Just to let you all know, I am still in my short position and the photo attached shows my average short entry. One thing I try to do with every trade is critique my execution, regardless of whether the trade ends up being profitable or not. My plan from the beginning was to treat this as an area rather than trying to perfectly time the top. I stuck to that plan, had a clear invalidation, and was comfortable taking the loss if I was wrong. But looking back, one thing I would've done differently is simply be more patient. After such a massive impulse higher, instead of beginning to build my short position into the move, I could've waited for price to slow down, establish a range, and then trade the structure that developed afterward. That would've given me more information and ultimately a much cleaner entry. And remember, no matter how long you've been trading, you're human and you will always make mistakes (even if the trade ends up being profitale), so there's always something you can improve.

$BTC This is exactly the compression I was talking about yesterday. After I posted that yesterday, price yet again pushed straight into the 50-week SMA and got rejected. Now we're back near the 50-week and 100-week EMAs, with the gap between these major moving averages getting tighter and tighter. With the CLARITY Act potentially acting as a catalyst today, I wouldn't be surprised to finally see some movement out of this area in either direction.

$BTC - Two Weeks Later It's now been two weeks since this post, and Bitcoin is still being squeezed between the same major higher-timeframe moving averages. The 50 & 100-week EMA continue to act as support, while the 50-week SMA continues to come down from above. With each passing day, these levels are getting closer and closer together. Like I said in the original post, I don't expect price to stay trapped here forever. Eventually one side is going to give. If Bitcoin breaks higher and starts getting accepted above the 50-week SMA over the next week, that would be a major change in structure and would give me the confidence that we're back into a bull market. If we lose the 50/100-week EMAs instead, then I'll be watching the move lower to see whether Bitcoin bounces off the 200D EMA/SMA and forms a higher low before continuing higher, or whether this eventually develops into a new lower low. -------------------- As a trader, I have to put my own bias aside and ignore what everyone online thinks. It doesn't matter how many people say the low is in or isn't in. The only thing that matters is what the chart is actually shows me.

bitcoin:native - Added my second half of my third short ($81,216) As mentioned in the post attached, I said I would enter my other short if price pushes higher into the 50W MA, as it just did. And again, I will close my short and take my loss once Bitcoin starts closing and getting accepted above the 50W MA