TTrader

Exited safely

Those of you at 2350-2360-2370 yesterday, not sure if your opportunity has come yet. Feels like BTC shorts are a bit painful.

Sure enough, the rebound after sentiment faded was very strong. Glad I had alerts set all the way down; as a major bear, I also managed to catch a long trade.

I woke up at 7:30 this morning, and BTC had set up a small bearish pattern, so I opened a short position around 77,800. Regarding the midterm elections, I thought the market would get the news in the afternoon or evening. Little did I expect the projections to be announced at noon. As of the time of writing, the results are settled: Trump has indeed lost control of both the House and the Senate. In my view, the impact at this level will be gradual. Today's drop was just an emotional release, and things will get even tougher for the bulls going forward.