In a market without the fear of a new war, #Bitcoin would have broken out of this triangle. However, due to escalating war fears and uncertainty, Bitcoin halted its uptrend and decided to retest the marked support line, resulting in a strong bounce as you can see marked on the chart. For that I am more than happy to have hedge shorted BTC at 108,800 with the perfect timing, just few hours before the red candles started! The strategy is as follows: The short from 108,700 remains open as a hedge, in case the dump continues. At this point, everything depends on one question: Will the war continue to escalate, or is there hope for relief? Once the market gains clarity, we’ll plan our next moves accordingly. For now, we’re in a very strong position, we are trading the market, not letting the market trade us. Our hedge is effectively protecting our spot holdings. The support level that triggered today’s bounce is at $103,100. Still, Bitcoin remains extremely volatile due to ongoing breaking news and we cant say that the really big red candle is out of the table yet. You know exactly which candles i refer to, those who drop 5-10% in a daily and fully bounce after the move leaving panic sellers behind. Would love to see this move, realise profits from short and ride the move back up. Also, the most beautiful thing, with the current setup, we have nothing to lose but only to win. Best-case scenario: If the market crashes on important news, we’ll take solid profits on our shorts, I will give the update in time once i decide to take profits on shorts. Of course the best case would be, Bitcoin pumping back to our original entry at 108k, then the short taken profit is no longer a hedge, it becomes pure net profit. That’s the ideal outcome, and if it plays out, we’ll walk away with a big win. This is the definiton of Low Risk, High Reward!