Today I want to talk about something that matters enormously right now: having the ability to pivot in your portfolio. This is not financial advice. I am not a CPA and I am not a trading advisor. Let's get started, and let's start with Bitcoin.
The structure of Bitcoin has changed. We had major prior resistance at a pivot point up around 81,000, which was also the 200 moving average at the time, and it had been containing price action inside a head and shoulders. Well, that head and shoulders has now been broken. It is gone. So the question becomes: how do I view this trade now? Say I only had a one-third position. I mentioned a couple of times over the last month that if I did not own any Bitcoin yet, I would be starting to buy some here, because it looks like things are changing.
Now, here is the situation most of you are actually in. You are looking at it going, I did not buy enough. That is completely normal. Do not feel bad, you are not alone. Most people never buy enough at the bottom. So what trade, what structure, lets you step in front of that train, and if you are wrong, still adjust?
That is the whole conversation today, and the answer for me is the modified synthetic long.
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