Yo guys…
The chart above is the 22hr chart for bitcoin.
I would keep an eye out on this as the blue vector candle has come up and recovered all the red vectors in the range.
What has got my attention is the fact that the wick of that red vector sends price all the way to the 20937 zone…
The question i am dealt with is this…
If i hold my short…Do i want to be involved with the drawdown.
If i close my trade now i would see a small loss that can be recovered in a few scalps.
Alternatively, do I hold it out?
Trading is all about decision making. Our decision making is always going to put us into the frame of mind of “What if” and this is something we cannot control…So we have to accept what is NOW and base our decisions on this.
I am giving bitcoin room to breath till Tokyo…If price has not recovered or started to make its way back down within 1.5 hours time (which is the when a new daily candle opens) I will close my trade.
Get ready for the fire tomorrow guys.
Mad Love
T
