Yesterday I entered the short position on BTC, but some of you wrote me that we got rekt. I could not understand why, because the max price was $42400, while the stop loss was $42443. I checked a lot of exchanges and found that on some exchanges this wick was longer that on others. Guys, you should set the stoploss according to price chart of your exchange, I cannot observe every exchange, please, understand me!
Even if you got rekt, I told you many times you can re-enter the position according to another one divergence signal. I marked the re-enter bar where you could re-enter with the minimum risk. I know that it’s too late to talk about it now, but I can’t stay awake during all night to write about it here. We have special trading bot which do it automatically, it allows us and our portfolio management clients to eliminate such situation (But we use only long trades now, to be honest, in our portfolio management, because shorts are too risky, but the bot algorithm is the same). I hope you will understand and not hate me, guys. I try to do my best.
What is next for the Bitcoin? I am still waiting for the drop. The bearish divergence is here on many timeframes and indicators. The Bitcoin is inside the Fibonacci golden pocket, it’s another evidence for the drop. Moreover we can see that BTC is trying to break down the support trend line. It can break it now or after some bounce and drop after that. The price can also set the new higher high and hit my stop loss, but it will probably be the new strong short signal. Let’s see!
Now I wanna talk to those people who told me that I am wrong AS ALWAYS. I did not executed short at $38k, $40k and even $41k, I just wrote that I am not believe that we will see $42k before $36k. I was WRONG, but I DID NOT LOSE anything on this growth. I executed short only yesterday and I am ready to got rekt, because of my money management, but if I will not get rekt I will earn money again, as always!