What can I write about BTC?
(In this post I want to talk with you about the short-term future of BTC. It is not a trading recommendation)
I would like to start with the following statement: If you don't have any position now - don't open one, right now we have the very uncertain situation on the market. There are two scenarios of the further development:
The first scenario: correction and the growth.
There are two points that can be considered as the bottom of the correction:
1.1 - ±6300$. There are several indicators which organise the support: Fibo level 0.5, Ichimoku cloud and profile volume. From this level we can catch a rebound and go up, but there is a chance that this level won't be enough for deleting LONG positions. (by the way, there are 60% longs and 40% shorts positions).
1.2 - ±6100$. At this level we also have strong support: Fibo level 0.61 and profile volumes. At this point, we probably will be able to liquidate the huge part of LONG positions and fly up. At this level we will also have an opporunity to trade the bare area 6120-6320$The second scenario: instant growth.
This option seems less likely for me, but we always have an opportunity to catch an unexpected move. This is why I advice you guys not to open any position now, too dangerous moment.
🔮 What about us? We hold our SHORT, which was opened at 6800$.
If you are a risky person - you can try to open SHORT at 6550$ and close it at 6100-6300$. After closing your short position, you can put buy orders and open LONG:
30% of position buy at 6300 - 6350$ and 70% of position buy at 6150 - 6200$.
However, the market is quite unstable right now, so I advise you people not to take leverage more than x10.