So Bitcoin has been doing well recently moving from $90k to $95,000 price territory. This recent surged in price was led by significant inflow in spot ETFs . Bitcoin moves triggered a short term increment in alt market. Ethereum moved from $3,055 to $3,395.85 impressively and SOL moved from $132 to $148.
Yesterday, while Bitcoin was around $95k price levels, I perceived that price will be making a quick correction or retracement. So I decided to open a quick short position on BTC, while I was still holding a long (BUY) position on Ethereum.
I entered a sell position on BTC at $95,545 entry price level and SL (stop lost) at $95,660 and my target was around $94,200 price levels.
My entering didn't take time to move in to profits, quickly it moved into profits. And that's because I plan my trade carefully. I take advantage of market weakness or strength. I understand that when market is dumping, people see fear, I see market weakness, weakness that I need to take advantage of. people sell their holdings, including with the people that bought even in extremely high prices, they all will sell into the weakness, fueling more depreciation to their debiting , while crediting my position.
The clear difference here isn't about a special skills, It's about patience and plan, coupled with timing that's all. You can't know the market totally, so don't spend your days studying the market too much. I think what most people need is the ability to control their market fears.
So, I was already holding a buy position on ETH, that I held for many days before opening the position on BTC.
Have been in profits for days, but still holding till Ethereum gets to $3,600 price level, where I will take my profits.
I kept watching my BTC position till the price got to my Tp (take profits ) level.
Currently, BTC price is at $95,370 price level as at the time of writing. If breaks above $95,900 price level, then there is a higher possibility that we will be heading to $98,000 price level.
Am happy to share these with you friends. Don't forget, trading the financial market especially products like this are extremely volatile with the risk of losing half of your initial capital if not all. So, trade wisely!
