While it'd be easy to say this was a failed macro trade by failing to reach $14K (which I would agree with), by reaching the first target of $10K, there was amble opportunity to take some profits and/or set a break-even stop loss around the entry level of $8.7K, based on the trading the short-term bullish momentum (that clearly ended in recent days). If you got rekt over this, you only have yourself to blame.


Personally, I decided not to shit the bed over this one, instead allocating only small position sizes around these prices, while covering the lower levels of $7.2K-$7.8K with an increase in capital, as previously referenced. In summary, a wide ladder between $7.2-$8.8K, that is adding to long-term positions from previous years, as opposed to shorter term trading. Therefore nothing for me has changed, I remain bullish, conservatively accumulating at long-term support, as I had already anticipated that the $8.2K VPVR point of control may not hold as support.

It should go with saying that while closing last week below this volume support of $8.2K, closing back above this price this week (6.5 days to go), would be incredibly bullish in my opinion.