a quick review why I lightened up the portfolio 8 days ago and 2 weeks ago and perceived early on a unlikely scenario of a penetration of the 10k BTC level
I excited here and here as marked in the room and the recent chart book post
I felt this to be prudent in alignment with weekly charts and the fact that we had 4 legs up
sitting fully allocated in sideways action seemed risk to me and I am avoiding that vigorously
the 200MA similarities of the past also had an influence on my decision:
the triangle BO I took conservatively and with an anticipatory entry with all exits the same day as an individual event:
on Friday evening I positioned myself (NY eastern time) to take advantage of a 250p range towards the 10k level assuming they will attempt to get there and may be even hit slightly through the 10k but advised in the room to not take BO trades on a 10k penetration since I felt a 5th leg up movement with a 10k resistance is very unlikely to advance-I always think in the terms of :how much do I have to risk for how much do i get in return=are we really running away here through a 10k level-not as likely
this is why over 90% of my positioned i entered on on 5/15/60/and daily was excited near 10k on that Friday reload
I also evaluate a likelihood of a need to get in first-meaning we only had a double top yet
so as much as price always comes first participation on a turning point is not always to be prudent as being a first participant-in this case the next attempt on the 10k level it being a triple top will be the actual first time i am interested to see a possibility of prices penetrating
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