OK, let’s keep this one as direct as possible. I currently hold two theses in regard to BTC. These theses are moving in the opposite direction but in time, both may well play-out.
Thesis 1
BTC as a Swing Trade (to the downside)
On a rejection off $6300-6500 and a strongly negative close (say -5% or more) on the daily – shorting BTC and targetting $5555 on half the position.
On the remainder, move the stop loss to break even and target $4805.
Stop loss $6858.
On a break above $6600 to $6800 – consider a second attempt at a short. Volume, momentum, etc. to
Add your Scripsio!
Comments