Meow || Studycap

$BTC 105k likely will not hold. What to do next? I am planning to make a stubborn move here. So, we wanted 105k to hold and price to reverse there. I expected the reaction to lead us higher, but this time, I was wrong. Left the trade some room to breathe but indeed, it is going deeper regardless. When the idea is wrong like this, there are two options. The most logical option is: to exit the trade, and let price go for the next area of liquidity, which is the wick at 101k. But given my conviction that this range will hold and eventually break to the upside; and knowing that I may have stepped into this long a bit early; and finally, because I’m simply exhausted by seeing nearly every post met with calls for lower while price only heads slightly lower each time, I’m going to do something stubborn. And that is to indeed plan to double up my long position as mentioned last post. And I will do that, once 101k area is reached, which, if executed successfully, will be a 4% risk of my entire crypto net worth, which is double from what I usually take. This area of 101k is the lowest most extreme area price is allowed to trade for our range idea to remain valid. If after doubling up, it fails, then I am truly wrong and I will just take the large risk and take a big loss. Is this stubborn? Yes. Is it recommended to trade along? Probably not. But since I called this range ages ago, and since we are still trading inside it, I think I can allow myself to make this move. And I just can't let this one go given our prior analysis, the endless amount of top callers on top, and the excessive caution we see on each and every pullback out there, both in the books as on the socials. That's not top behavior at all, that's a scared, sidelined audience of participants. I want to counteract that. And albeit with bigger risk, it's all built on the backbone of this range which we are still trading in. Hope it works out. Just sharing what I do. Some serious conviction on the table now. Hope that sheds a light on some of your doubts you may have out there of where $BTC leads crypto next.

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