US Shutdown Is Over - I Opened a BTC Futures Long

DJ CryptoMan

DJ CryptoMan

— 1 min read
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The record for duration has been broken, and I’m sketching out what could happen through year-end. I expect:

  • Macro stats with weak labor market numbers and a slowing economy (retail earnings are hinting at this)
  • Consequently, despite Powell’s speech after the last meeting, I think the Fed will have to cut rates once more this year
  • I also kind of overlooked the potential approval of altcoin ETFs.

Overall, these are mostly bullish signals. I opened a BTC long at 101,893 on futures with a small notional but high leverage. If we go down, it’ll get liquidated quickly - but the amount is small. If we go up, the potential profit could be solid thanks to the leverage. It’s a new idea for me, so let’s see how it goes. The initial plan is to take profit somewhere around 109k+, but below 110k.

If anyone wants to copy this, please, think it through for yourself first and DYOR

Originally posted in Telegram channel.

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