AyKay-Trading

Probabilities of a short squeeze are vanishing

Short
AyKay-Trading Mis à jour   
BITFINEX:BTCUSD   Bitcoin
On the TA side:
  • BTC just broken the ascending triangle
  • RSI trend is broken
  • EMA 5 (4h) crossed EMA 50 (4h)

On the news side:
  • The ETF of ProShares will most probably be denied by August 23rd while people sill hope for an approval
  • There are still too much optimism in this bear market making me think we did not touch the bottom

I closed my long position opened during the ascending triangle but I am not taking a short position until the official decision of the SEC on the ProShares ETF.

There is still a chance - that I consider small - that a denial of the ProShares ETF will have no effect on the market and trigger a short squeeze.
Commentaire:
A short squeeze is still possible but BTC will have to break an important resistance level @ 6900$
Commentaire:
No short squeeze finally


Short positions on Bitfinex

Long positions on Bitfinex
Trade fermée manuellement:
I closed my trade at least temporarily for the reasons mentioned on the graph below


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