Bitcoin (BTCUSD) Long term bearish but currently seems bullish.

After a long period of consolidation, Bitcoin has finally moved to test support again.

Longs rapidly dropped while shorts rose, which is a pretty bullish sign. The mass entry of longs now is pretty unexpected but I believe it is still bullish. At the previous Bitcoin bottom near 3.2k, there was a massive long accumulation also. Don't be conditioned to thing that BTCUSDLONGS rising is bearish and vice versa by the crypto community. It depends on the scenario.

Currently orderbook is on the side of the bulls.

Thanks for viewing! Keep in mind there will likely be a stop hunt of some sort so just scale in.

Trade stängt: målet nått:

Trade closed almost exactly as planned.

I bought in during the major stop hunt since i put limit orders near liquidation levels.

Some of my orders got filled and stopped out, but the one that didn't made back all the losses.

4.4% profit.

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I still hold part of my long and plan on adding later. I believe in a move down now which could be part of a bigger move up.

If it doesn't happen, it is alright, 4.4% is something I am happy with.

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It went down as expected.

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Right now newbies shorting ETF news. I wonder if theres going to be a dump then pump to liquidate these people.

Trade stängt: målet nått:

Changed my mind about rebuying.