I was bull when we were above the June 2021 low of $28805.
The idea of a bull market that could reach 100k was not invalidated at that point.
When a lower low than $28805 was hit I set shorts from $30-33k, but $33k was never hit. As that 33k short was 50% of my 10x leverage I was pretty safe but wanted a bigger position. Shorting at lower levels left me with an average sell of $27233.85.
I didn’t start to close the short until $21k, with progressively larger buys every $1K until $18k.
Now my short is finally closed, but I’m keeping my profit as BTC.
It’s all about accumulation, and bears are likely to get overconfident and over-leveraged in the high teens to such an extent that they get painfully squeezed.
I’ll be glad I’m not still shorting then.
The idea of a bull market that could reach 100k was not invalidated at that point.
When a lower low than $28805 was hit I set shorts from $30-33k, but $33k was never hit. As that 33k short was 50% of my 10x leverage I was pretty safe but wanted a bigger position. Shorting at lower levels left me with an average sell of $27233.85.
I didn’t start to close the short until $21k, with progressively larger buys every $1K until $18k.
Now my short is finally closed, but I’m keeping my profit as BTC.
It’s all about accumulation, and bears are likely to get overconfident and over-leveraged in the high teens to such an extent that they get painfully squeezed.
I’ll be glad I’m not still shorting then.
