BTC Update 05/21/2024, 66010(+0.2%)
BTC Update 05/21/2024, 66010(+0.2%)
Journaling days: 38
BTC printed its lowest 66010 at 08:33/05/20/24
BTC printed its highest 71674.6 at 06:29/05/21/24.
Journal time: May 20th-21th. 7am-7am UTC+7.
The gap between the Lowest and the Highest is 8.58%. The current session's BTC lowest level is +0.26% compared to yesterday's lowest price.
BTC Prediction for 05/21-05/22
Short target: 72134
Long target: 66009
Prediction active at 10.30 am 05/21 and expired at 07:00am 05/22/24 UTC+7.
Bias: Bearish
If I had only 1 choice between the two price target above and had no unfinished position to protect from liquidation, I would select the "short" target 72134. If you read this update, please DYOR.
I know,
Bitcoin (BTC) has broken its local high at least six times since May 16th. I know it seems foolish to keep shorting after so many incorrect predictions, but I would regret missing out on my own personal learning experience. I don't want to follow those who believe trading Bitcoin is impossible and that simply holding (hodling) is always the best strategy without doing my own due diligence.
BTC Prediction for 05/20-05/21 (Update)#1
Position: 70140. Limit order: Short.
#1. Drawdown: Up: +1.76% / -2.18%
05/21/24, At 03:00 am (utc+7) sharp, BTC crossed my second short target price at 70140. I am telling you that it was a surprising move that took work to accept for a shorter trader, but to profit from two directions of the BTC dynamic, I have to learn to embrace this reality and prepare to adjust my sails for the next leg of the journey.
Let's be honest; even a seasoned captain like myself enjoys a good surprise every now and then. This just further confirms the dynamic nature of the market and the importance of remaining flexible. Here's to continued success, both with the shorts and the longs!
PS: I have 2 open short positions, and my average shorting price is now 68392.0. With this additional position, my average profit target is now 65656 from previously 64000 (I would adjust it accordingly).
BTC Prediction for 05/16-05/17 (Update)#5
Position: 66644. Limit order: Short.
#5. Drawdown: Up: +0.9%/ -7.54%
#4. Drawdown: -1.65%/Up: +1.21%
#3. Drawdown: -1.04%/Up: +0.21%
#2. Drawdown: -1.13% /Up: +2.3%
#1. Drawdown: -0.54% /Up: +3.1%
BTC crossed the first bearish target, 66440, at 18:59 (05/16) and the moderate bearish target, 66644, at 19:30. Considering the prediction active timing (10:00am), I take the moderate target in this journal. Target take profit: 64000.