Yesterday, we made a short-term long trade on Bitcoin and came away with a decent gain. Unfortunately, it failed to break out and develop into a bigger trend. We have now exited the position entirely and taken profits.
Honestly, this move has been pretty interesting. When I checked the market this morning, I felt there was potential. Bitcoin had been hovering around a key level for a while, and volume was gradually picking up, so I decisively entered a short-term long position in the afternoon. The rally in the evening was strong, and it felt good to see the unrealized gains on the books. But we’re not greedy; when it’s time to get out, we get out. There’s resistance overhead, and several attempts to break through have failed, which shows the bulls are still lacking a bit of momentum.
Some friends asked why I didn’t hold on a little longer—what if it had broken out? Guys, the biggest mistake in trading is betting on “what if.” We make money on what we understand. Whether it breaks out is up to the market, not something we can gamble on. From entry to exit, we timed this short-term long trade pretty well. I’m satisfied.
For now, I’ll wait and see whether Bitcoin can hold support below. If it retests and confirms that level, there may be another opportunity to get back in. There are opportunities in the market every day, so there’s no need to rush. This short-term long trade wrapped up perfectly. I’ll treat myself to a chicken drumstick tonight. See you on the next move.
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