Building BTC short position to 90k zone
The news around Bitcoin (BTC) has been overly positive, especially with China's recent move to legalize ownership, which has been supporting the price. Additionally, Trump’s election victory has provided another boost to Bitcoin's momentum. The Bitcoin ETF has reached an all-time high in Assets Under Management (AUM) at $86 billion, further driving prices higher as it brings more volume and encourages retail investors to re-enter the market.
However, I’m noticing key bearish signals. The aggregated order book liquidity delta has turned red since Bitcoin reached $90,000, and the selling pressure has been increasing. Open interest is at an all-time high, which, in my view, is a strong indicator to take a short position. The RSI is also signaling bearish momentum, though there is potential for a fake breakout around the $103,000 level.
My plan is to increase my short position as the price begins to decline, capitalizing on what I believe to be a temporary and unsustainable rally.
However, I’m noticing key bearish signals. The aggregated order book liquidity delta has turned red since Bitcoin reached $90,000, and the selling pressure has been increasing. Open interest is at an all-time high, which, in my view, is a strong indicator to take a short position. The RSI is also signaling bearish momentum, though there is potential for a fake breakout around the $103,000 level.
My plan is to increase my short position as the price begins to decline, capitalizing on what I believe to be a temporary and unsustainable rally.
تم فتح الصفقة
I entered the trade and worked myself from higher time to lower, W, D,4h,30min
The entry strategy is based on the 30min.
تم إغلاق الصفقة يدويًا
I will close the trade shortly at a loss and wait until the price reaches around 99k-103k before building my short position. As we can clearly see on the 4-hour chart, there is a pull-up.ملاحظة
I have learned an important lesson: when traveling, make sure to set alerts for the prices you want.ملاحظة
As I predicted the bouns of the 94k happened. The reason behind this was the previous high-volume point also known point of control.ملاحظة
the liquidity from last week has been successfully liquidated. when it hits Pval it makes bouns. ملاحظة
My Order did not fill out by $40 so I am manually entering a trade. what I have learned is always place the alert to notify yourself in case of the price the price is nearing to the target ملاحظة
Always stick to the plan and control your FOMO.ملاحظة
Yesterday, I took my long position as anticipated in the chart above. The reasoning behind this was that, after we liquidated almost all long positions in the area, I started to notice momentum returning. Money was flowing back in, and buyers were taking control on the 15-minute chart. Additionally, the RSI was giving clear buy signals, and we had reached the Point of Control (POC). The situation in the Israel-Lebanon conflict showed signs of stabilization, while the PCE remained unchanged, but GDP decreased by 0.2%, dropping from 3% to 2.8%.
In summary, I am in a long position as I see good buy signals for Bitcoin. However, I am watching carefully because I believe the correction might continue, as it historically tends to do. Some other indicators are pointing towards an 80K Bitcoin target, so I will wait and see how the situation develops.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.