$BTC a Sell After a Dead Cat Bounce?

LeoFinance
19 days ago
(edited)
1 Min Read
116 Words

So I'm looking at this hourly chart. This is a classic dead cat bounce. The move is to sell into this resistance, wait for a drop, and buy back later.

The problem?

This is $BTC!

A pump could come out of nowhere and blow past the resistance at the all time highs.

So my compromise solution is to keep my position and promise myself to buy more with fiat if it drops.

Posted Using LeoFinance Beta

Follow up this is a perfect short position:

E052D1EC14FA49A9B932A1DDD92951EA.png

Volume divergence, lower high, and dead cat bounce. Stop loss is 33500, profit target is 29500. 3:1 reward:risk

In the morning:

image.png

This is why I don't short BTC lol