🔴🥳Update🥳🔴
I posted yesterday about why 57k seemed like a good spot to open a short. I also said its never smart to short when btc is in its bullcycle. I knew the risk I took and I got liquidated out of my position. do I regret making the call? no. the chart was sound and looked good, still does and it can be a fakeout, but probably not. does a liquidated position make me fell sad, upset, or revenge trade? Hell no! I check my hardwarewallets and smile because I know what risk management does, and how to use it. I lost the short, but because I manage my risk my other investments are up 10x what I lost. shorting a bullmarket us stupid, but its also a rule to secure profits and minimize losses.
Why is the market pumping? its irrational and the etfs just have to buy, so does alot of other players right now. buying an asset that is up 4x in a year is considered a high risk investment and its not something alot if people advice people to do, but people should buy bitcoin at the price they deserve.
Is this a healthy long term movement? hell no, its not healthy for anything to move at these phases. we are not finding strong supports on the way up, and right now everyone is in profits and people will begin to liquidate those profits. bitcoin can crash 30% in a matter of days, it have happened before and it will happen again. its liquidation events that move prices to restart funding and grab quick money from weak hands.
stay safe out there, and own your trades.
