Weekly Bitcoin plan: 13 Feb 2023

Have a bull and a bear plan and adjust as the market dictates 😉 Current mood: bearish

Here is my bull/bear #bitcoin scenario’s for next long’s.

I am currently in 2 short positions in ETH and SOL after exiting my AVAX short this weekend to lock in some profits at this level. I won’t add to my shorts and if we go down, will be taking profits at every level.

We have 2 paths Bitcoin could take now that inflation numbers are coming in this week:

1. The first path is the possibility that we are currently in a deviation and we move up and get accepted back in the range. I may well still keep my shorts open, but will open longs back on support to hedge the shorts. I may well set stop loss to break even on the shorts.
2. The market ranges here as the bear flag matures and within the next 3–6 days makes a move to the next level at around $20 500.00. I will take more profits here on my shorts, but will leave a good 30% in case of a final move down to $18k. At this level, will look for a sign of strength and turn bullish again.