There we go, BTC short term pump

Next step: Get your resistances to the top. Find an exit strategy and for that draw all the resistances to the uptrend (because I am long right now).

We just had a big downtrend so it is very unlikely that we will just burst up the the recent ATH.
For now I am relaxing on my position and further observe the price action (PA)

Broke the lower support. All good until we don't go lower. If we cannot reclaim it is time to cut losses and close the long.

retested the support from above -> now resistance. Still waiting as BTC looks good and it could be a fakeout. Minute chart is not as reliable.

Also those news coming in

BTC further up, reclaimed on minute chart, further observing.

It looked like a bottom and still can be. The curviture is obviously moving flatish, the hourly indicitates a potential further leg down.

I am leaving my initial (small position at a 1% loss here), larger would have been entered at the first confirmed Higher low. But I am getting tired and the PA is not quick enough to properly trade it right now. I will follow-up tomorrow anyways to check what has happened. My bias is at least 1 relief pump before further continuation.

I hope this gave you an impression how you can prepare and trade. Unfortunately, YGG wasn't as volatile as I hoped to properly showcase you how to make money or how to get liquidated :D

One last thing: When you want to leverage trade futuers: I highly recommend you to only trade larger, very obvious moves. When you try to giga scalp the smallest movements, you will 90% lose: Spread kills you and the fees. You need to be proper right on your moves just to compensate on spread and fees.

JUST IN: All Spot Bitcoin ETF applicants submitted 19b-4 final amendments:

• VanEck
• Bitwise
• Fidelity
• Franklin
• Valkyrie
• Hashdex
• ArkInvest
• Grayscale
• BlackRock
• WisdomTree
• Invesco Galaxy

@WatcherGuru

Ok guys, couldn‘t resist to keep checking… I reentered at the bottom break 😇

By the way, the more they are talking about sell the news on the ETF, the less I think it is going to be a sellthe news event.

Closed it as there isn‘t enough follow-up strength. Feels like we might dip another round. Volume is also way too low to further trade it (altough we are sitting at daily low right now).

A roundup on this trade yesterday:
As I wrote I am unsure on the 5 waves - the count was obviously wrong. We did not have the downtrend completed. It looks like we might have now.

Either way, YGG is not interesting for me anymore on this for two reasons:

We had the blow off top, and already retraced 30% from the top. This is not something I can short anymore.

The concept would be still to long if you wanted to trade it. However, we lost the important support at 0.47-0.48. This means, we will face heavy resistance when we want to push upwards. On top of that, the volume is low and I do not expect extreme volatility in a short amount of time.

Hence, I expect more of an accumulation phase which makes it more like gambling than real trading if you ask me. Especially, you would have expect longer trades which I do not want on leverage. Longer trades are spot buys for me for long-term bags, which YGG isn't for me.

Why did I exit this long?:
You can see that there are 2 important spots. The top arrow points towards the region where YGG should have formed a higher low. You would expect at this retesting area after a breakout a huge volume and buying pressure. There simply wasn't that real spike and in contrast, we traded somewhat sideways and starting falling off a cliff. This is the point where I exited again.

The next arrow would have been important as well. In fact, the volume spiked a little more but the same thing: simply noone really wanted to buy. This showed me that we have not reached the bottom yet and I stopped looking at it. As said, a short would have been interesting but considering being already 25% down in a few hours, the trade is too risky to take for me.

I might do another series like this if you guys want and if I see an interesting trade coming up soon.

Sui has been playing out great so far. I would expect we take one or two more dips until we will break the top.

4th or 5th attempt usualy breaks a resistance like this in an ascending/decending triangle

BTC LTF for next hours

BTC plan for the next few days

12k off the lines now? :D

30k is the worse case scenario that can happen (maybe a wick below). We wil only break it if we get a rejection of the ETFs. Don't let some attention seekers get you out of your bags. Be carefeul who you let influence you :D