Considering Another Short XBT position - Have not entered



afce24b31ba16622e0ea7707404bef1c_1570389967_4275.png       d5021a3e74a237f7b667a13d990add56_1570390081_144.png 

Considering Another Short XBT position - Have not entered

Typically the best time to initiate a short position is after a sharp rally, but I am not in a position at the moment, this is a wait and see situation. One Possible play is to wait until we rally further up and I would then look for a parabolic move prior to initiating a short position. This is just an analysis of the current state of XBT. S&P went from looking negative today to bouncing from the lows at the end of the day on Friday March 27, 2020. No doubt short sellers that entered their positions on Friday afternoon are not happy with Monday as markets rallied. BTC , contrary to popular belief does co-relate to what I call "the adult" market, or S&P and DJIA and NASDAQ.

My thesis is simple, there is more selling to be done, but it is a matter of watching and timing. Current Resistance zones and demand zones are outlined by the graphic. I may enter a position but I would be pouncing on an opportunity if the case presents itself rather than deciding right away that XBT is "going down" for sure. Tight stop and an aggressive trailing policy would be implemented with an eye on break-even + some nominal profit prior to leaving the screen to let the trade play out.
0 Comments

최근글


새댓글


Facebook Twitter GooglePlus KakaoStory NaverBand