161
« on: March 17, 2023, 05:22:44 AM »
Cold Blooded Shiller: For those who missed Market Discussion chat tonight.
I bought some $32k $BTC Calls earlier for April 28th.
This is hyper aggressive and really not a play for many of you, especially as I'm doing it ahead of the Weekly close (will cut if we fail the breakout)
I mentioned the other day that Renko said the top of the bands is $38k which is why I've gone for this.
In terms of timing, when we broke the $14k range we did a +50% move in 5 weeks, so looking for something similar through here with the RSI position being at 50.
Like I said, not a play for many because it's simply too aggressive, expensive and it's also probably the top
Think of this like an elevated spot bag, fail the Weekly break and close, fail to stay above the range and close, otherwise it's a hold and watch.
Make sure you're paying attention with these momentum pushes in the markets. There looks to be a lot of good opportunity around for playing into it.
Key points:
Look for 15m RSI resets
Make sure your hourly isn't too overextended
Pick markets that are already outside of Daily ranges or are at Daily support (APT a great choice)
Most alts have a reset 4h RSI so play into it
Make sure you consider the domino effect of your alt -> can it be a strong Daily trade if you get an entry on the LTFs here?
Try to narrow your focus, pick the best performers of the last run if they meet your conditions
Lots of chat about ETH being so weak, but I think it plays a nice catch up, so keep an eye on it.
Lastly, make sure you have your invalidation points. You don't want to get caught with your pants down if BTC puts in a high here with this tap into the $26k supply region.
Let's hope we stick the volatility/momentum so I can have some fun.