good morning humans 👋
i closed my long and i am back to cash. was not satisfied with the reaction which we got - very not what i was looking for.
will try at the next pivot, and all the pivots which follow until i witness "that reaction which i'm looking for".
---
i got to thinking;
you know how everybody expected 40k to be the bottom,
then 30k
20k...
so each time, the levels did act as a bottom, but not "the bottom".
each time price broke below the floor price of peoples expectations it back-tested that whole area for liquidity before seeing capitulation.
---
so is this time any different?
no.
if anything, this time it's even more pronounced, with a majority of the market being trapped near 20k.
i would expect significant selling pressure from people scattering to get out near break-even right around that 20k region (+1\2k)
---
i'm looking for $14,500~$13,100 on this next wave down.
keep an eye out for a video later today, i share my new theory.
i closed my long and i am back to cash. was not satisfied with the reaction which we got - very not what i was looking for.
will try at the next pivot, and all the pivots which follow until i witness "that reaction which i'm looking for".
---
i got to thinking;
you know how everybody expected 40k to be the bottom,
then 30k
20k...
so each time, the levels did act as a bottom, but not "the bottom".
each time price broke below the floor price of peoples expectations it back-tested that whole area for liquidity before seeing capitulation.
---
so is this time any different?
no.
if anything, this time it's even more pronounced, with a majority of the market being trapped near 20k.
i would expect significant selling pressure from people scattering to get out near break-even right around that 20k region (+1\2k)
---
i'm looking for $14,500~$13,100 on this next wave down.
keep an eye out for a video later today, i share my new theory.