This might be a clue, regarding the future direction of Bitcoin.
I'd look into buying once the decline is done, naturally, but for the time being you can look into shorting BTC pairs at market, perhaps diversifying your BTC risk by purchasing Ethereum with it (risk 1-3 average daily ranges in it, or BTS for instance). If buying BTC for the long term you can always reduce exposure on rallies and buy back more on dips as well. A balanced crypto portfolio with a few alts, monitoring % advance and decline of each component against usd or cny would be a good idea. You can rebalance the weights of each asset following systematic rules, and never fully sell your positions. Tim West has posts covering this if you browse through his publications, check it out.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
I'd look into buying once the decline is done, naturally, but for the time being you can look into shorting BTC pairs at market, perhaps diversifying your BTC risk by purchasing Ethereum with it (risk 1-3 average daily ranges in it, or BTS for instance). If buying BTC for the long term you can always reduce exposure on rallies and buy back more on dips as well. A balanced crypto portfolio with a few alts, monitoring % advance and decline of each component against usd or cny would be a good idea. You can rebalance the weights of each asset following systematic rules, and never fully sell your positions. Tim West has posts covering this if you browse through his publications, check it out.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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BTCCNY moved down to catch up to this one. I really think this is a good indicator, to show us smart money sentiment. Who is trading this ETF? It has been leading BTC fiat pairs reliably, and with a more readable chart too.
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This leading indicator didn't disappoint, look at the drop in BTC pairs...
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Perfect...
