$BTC
Price still at 76k. Exited longs BE, FOMC reversal, and a local flip
(Yes, I am building a local short)
Alright, an interesting afternoon of FOMC, a bit of shenanigans, some volatile price action, and missing out on some profit, is what I believe summarized our experience most accurately.
Where, we took a long into our green POI zone, then highlighted how the funding rates were quite negative, along with price action reasons and some secrets of my own, hinting a squeeze up.
We then saw the squeeze up, pushing price north about 1500 points, but it ended up stalling right then and there just shy of 78k.
So trade ran into profit, but I didn't take any profit, as price move was not enough to make any meaningful gain.
Clearly, the FOMC reversal is turning into effect, front running our targets, only going for the minimal amount of price swing we predicted.
My next thoughts
So, that leads us into our next step of the plan hinted at last post, which is to respect the FOMC reversal further, not get arrogant, and stop longing up high for a bit (aside from holding runners). Because price is likely to face a downside (local, keyword, local) trend for the days/weeks to come.
And before you click away, for all the bears out there in the comments, I am telling you now: that doesn't mean absolute downtrend to sub 50k. I know many of you are waiting for it. I remind you loudly and clearly, no sub 50k. I am hinting at a local downside trend/at the very least uptrend stall, not worth longing into any more as we have been doing, and potentially pull a short, but not expect a large swing down.
My next moves
So my next moves are very logical. It's to firstly, get ride of the last bit of long exposure.
We had a lot of joy riding the entire move from sub 66k up all the way to 79k, a 13k move. But with the FOMC event, it's time to stay humble for a bit, and just exit.
Last entry is around break even of the last compounds, so we don't even have to pay for the trend to end.
At the same time, I think there is still a chance to benefit from the post FOMC reversal local downtrend, at least for 1 (maybe 2) short trades.
So, I am looking to start a short very soon. 75.9k is okay now that the effect of the FOMC reversal is confirmed. But given our hickup, that's a late entry.
So I am at least looking for some liquidity first to get a justified entry. (Never enter randomly even when certain of a bias). So I am waiting for 76.2k first + local confirmation, before starting a short.
So that is indeed a plan for a short, but don't get it confused. I am overall bullish. I think this range (60k - 80k) breaks to the upside, and I am still holding all my long runners (10% positions which still haven't been stopped out). But I am trying to ride down the FOMC reversal for at least a few days, as its worth the risk.
Nonetheless, certainly a bit of a local flip here on my end, but nothing unexpected and in full alignment with my edge and plan.
And, it is nothing permanent either, just for the time being.
Continuing the plan logically. Emotionless, just business.
$BTC longs
Hello 71.4k. Break it and we hit target!
Alright, beautiful print on the longs. Up 3.6 RR by now, a nice result. We have set target at 71.9k, reminding you limits are set.
To hit it, we just need to break the local resistance.
Usually, when my targets get close, it should happen quite easily, so I don't suspect it to take too long. This post is just to encourage you to hold on. We already did the trim, the trade is already a relaxed ride and it's just printing money from here.
The plan, the action, and the pay-out, coming soon hopefully. All from the couch or wherever you are or want to be in the world.
Another day, another hearing, another appeal but still the same old outcome; a loss for FSV Mainz 05.
Regular defeats on the football pitch clearly aren’t enough for the board of the club so they keep coming back for more losses in the German courts !
I am grateful to the German courts for serving justice and seeing through the baseless and nonsensical claims of the club.
Let me be clear, the statement from the serial losers FSV Mainz 05 following their latest defeat is as deluded as their entire dealings and proceedings against me. I have never had, nor will I ever have, any consensus with any person or organisation which seeks to silence those standing for justice and humanity. My values can never align with any organisation whose values and convictions are to blindly stand with those accused of flagrantly breaching International law and perpetrating genocide.
No one is above the law.
Let this latest victory send a loud and clear to message to the warmongers, their accomplices and the deluded board members of FSV Mainz 05; you cannot, and will not, silence the voices of the Palestinians and their advocates. Viva Palestina !!!