Also: this could easily turn parabolic up. I'm trying to predict a cap on a powerfully long market so there's a lot more risk. Would like to see sellers first
With a stop just over 4000, the 1st round of sellers already gave me a 2:1 R/R (Reward to Risk) on my position which means i can break even, even with being right only 50% of the time. I'm just stacking the RR in my favor.
If you go back and look at my trades I'm very long BTC and ETH. I still am, but hedging positions to buy lower.
The pullback on the 1 min chart looks like a zigzag -> flat -> bearish impulse (forming). If price goes back above $3926 on bitfinex I'll close position, but i think it still has to drop at least a little bit more.