After sweeping the yearly lows and making lower lows, all those who longed that area around $5800-6k, are either underwater or have been liquidated. To protect their positions, those longs may look to get out of their position at break-even at the same levels they entered. On a short-TF, any rally will be a sell opportunity at 5800-6k, turning that historic support level to a resistance zone. Currently in a XBT long on December futures contract for a scalp.
Not moving too quick right now until Bitcoin paints a clearer direction, waiting for daily close. r/r on shorts here is not that great, so im remaining spot BTC with bids at $4900-4800.
Not moving too quick right now until Bitcoin paints a clearer direction, waiting for daily close. r/r on shorts here is not that great, so im remaining spot BTC with bids at $4900-4800.