Is the crypto winter over?

deaddog said:
What is your target?
What is your risk/reward?
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This is (or was) the plan. If it doesn't come back down, I'll reconsider flipping back to long.

schizo said:
Here's what I think will happen. We go up to roughly 29K (or 28,800 to be more precise) then roll over and go down to 25K. After that, I'm pretty damn sure we rally. But then again, everything remains to be seen.
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deaddog said:
Where are you flipping to long? At your 32k stop?
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Are you still long bitcoin etf?

Short term trading, I went back long btc perp futures a few days ago, about to add collateral and increase position


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deaddog said:
Where are you flipping to long? At your 32k stop?
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Looks like this rally pretty much fizzled out for the moment. Need to see if it has more legs or not. I do have an order placed near 32K but I might flip even sooner depending on how things play out. Otherwise, plan to just sit tight.
 
schizo said:
Looks like this rally pretty much fizzled out for the moment. Need to see if it has more legs or not.
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And she is indeed tanking!

Is there a fundamental behind this? Or is it simply profit taking?

To me, this is (in hindsight, at least) a complete bull trap. There ain't no way this will turn around now. Just look at the long wick. And we're back below 28.8K, where I first shorted.

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