LIVEFollow up from short: When I posted this BTC 24 hour high was 71300. BTC has went up and down after this post, even seeing some huge flash dumps up to 70400.
Now that most liquidations are cleared out, the trend has clarity. I am expecting a minor to moderate correction to 69.5k, 68.5k, and 66k. Any dump below 66k is probably unlikely, unless some disasterous event occurs, such as major ancient wallets being re activated. Like Mt. Gox.
Anyways, I will probably start closing my short near 69k, bit by bit. Then I will reverse to long. A real pump was always preceded by a correction, which is just how market efficiency works. So without a correction I think going long now is way too risky.
Again the volume is not sufficient enough to actually start a omega bull run. Even when major exchanges have less and less Bitcoin reserves (Supply), the fact that we still didn't reach ATH means market is not really true bullish yet. Also looking at how the entire market just pumped, this is probably a bubble.
But as always overall trend for BTC, in the long term is always up. It is designed to be that way, but we are not going 100k this year or some ridiculously high price.
And regarding $ETH , after all that ETF hype seems like this thing is not really pumping. ETH has failed to even break 4k, considering all the hype over it recently it is really underperforming.
People cannot just buy and hold forever, the reason why people buy is to sell high. If everyone is holding, then no one makes profit. That's what you should keep in mind, unless you are holding to your deathbed everyone else is probably willing to sell after a decent pump. Just like you.
Every investors have the same ultimate goal: Put USD, trade crypto, and get more USD. Not get more CRYPTO. All the millionaires who bought BTC at $1? Those guys sold. That's how they are rich now.
LIVEThe very recent pump has no follow up volume, meaning this is not a clear trend of a bull run. It's more likely a bull trap.
Even without trying to analyse all this data, logically speaking shorting is probably the move when we are at weekly high.
Anyways, shorting BTC seems like the move. After that I will reverse to long. Just like how I gobbled up $$ from BTC 60k long. Just pick the winning team...
Remember to do risk management and do NOT go high leverage as there is always some unexpected event that may or may not screw you up, regardless of your position.
Oh, and $BNB somehow broke ATH. I was buying this coin slowly since $300, always recommended this coin but $700 feels a bit too high. A 11% pump for BNB is insane. The chart looks like some shitcoin that is about to get dumped. I am worried about the volatility. I am not going to sell though.
#ShortMaestro
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