Good morning! We should’ve considered longing $COW after closing our short at $0.60.
Here’s why longing makes sense:
COW has been consolidating between $0.60 and $0.70 for a while, even during BTC’s decline and BTCD’s rise. This indicates strong support at $0.60 and suggests potential for an upward move.
A similar pattern was seen with $MOVE , which held steady between $0.60 and $0.63, despite BTC dropping and BTCD rising. A long position at $0.62 would have been a smart move.
Lesson learned: Hesitation can cost us opportunities. Having the courage to enter the right positions is key!
