$BTCUSD $BTC #BTC #Bitcoin #StillLong
Hey guys, still long bitcoin!
Not the biggest position, but we were up 26% in it rather rapidly. I was looking to slowing buy into a bigger position over time, which is the goal - but the TA on the right displays a bit of buying that does not appear to be slowing down.
Macro environment for crypto is good right now, with all the concerns of a global slow down, potential easing & rate cuts on the horizon, currencies losing value against each other and the pump in gold likewise going on right now seeking a hedge for wealth is a constant in *potentially* troubling times (trade wars, concern of war with Iran). All the while, the amount of BTC that is comped to miners will be screeching to a much slower grind in the near future which would have a strengthening effect on BTC while the other currencies are losing value.
Despite this - do trees grow to the stars?! Not a smart time to just add to the longs, I see TA in some ways as overbought, but momentum is strong and the volume does not appear to contain many profit takers. I would anticipate a bounce here soon - but regardless on if it comes or not I am not taking profit. Would just buy the next big dip, and ease into an even larger trade.
Not the biggest position, but we were up 26% in it rather rapidly. I was looking to slowing buy into a bigger position over time, which is the goal - but the TA on the right displays a bit of buying that does not appear to be slowing down.
Macro environment for crypto is good right now, with all the concerns of a global slow down, potential easing & rate cuts on the horizon, currencies losing value against each other and the pump in gold likewise going on right now seeking a hedge for wealth is a constant in *potentially* troubling times (trade wars, concern of war with Iran). All the while, the amount of BTC that is comped to miners will be screeching to a much slower grind in the near future which would have a strengthening effect on BTC while the other currencies are losing value.
Despite this - do trees grow to the stars?! Not a smart time to just add to the longs, I see TA in some ways as overbought, but momentum is strong and the volume does not appear to contain many profit takers. I would anticipate a bounce here soon - but regardless on if it comes or not I am not taking profit. Would just buy the next big dip, and ease into an even larger trade.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.