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Market Update, what I think is coming and how I’m positioning myself ✍️
Currently I am short from $78.8, but I am expecting one more high hopefully into the $79.7-$80.7 area where I have more short entries waiting.
SL will roughly be around $83k and I am looking for this to be a HTF swing, could even hold a portion to Q3/4 depending on how the market plays out.
On the LTF I am looking for longs around $75.5-$76.5 targeting $80k and as high as $82k, will also be looking to TP1 the short here.
If we lose this level will be looking to long with higher size at $73.5 and that’s where I’ll do a TP2 on the short.
If we lose that level will be looking for $70,650 and that’ll be TP3 for short.
After that it gets ugly if we lose it, TP4 for short will be $60k. TP5 and probably close the trade around $55-57k wherever the drop falls to.
If we start closing above $82/83k this will be invalid imo and will reassess.
In summary level I am interested above for shorts is $79.7k-$80.7k. Levels I am interested below are $76.5-75.5, 73.5 and 70.650.
Let me know your thoughts.