TRADE ALERT - BTC LONG

#bitcoin #btcusd #crypto #cryptocurrency

Ok. I know. Long #BTC? Really? Now? Yes. Here’s why: Dollar double-topping, VIX double-topping, S&P double-bottom(?-TBD), Regional Banks still breaking out, High Yield and Investment grade bonds topping, Oil/Gas/Other disinflationary data still trending down overall, etc. All charts are indicating we are near a capitulation phase. And here is how bitcoin looks:

You can see it is right in that support zone. Now, I don’t want to see us drop below it, therefore; I have set my stops accordingly. TP is still TBD but I will say, pending no stop outs, I plan on holding this for a while. Stay tuned for more.

Position = BTC

Entry = 18331

Stop Loss = 17337

Final Target = TBD

Risk/Reward = TBD

Leverage = 5x

Profit Potential = TBD