BTC at support/resistance

Updated

Will be interesting to see if we truly break through this trend line that is currently acting as resistance. Internals don't look amazing (need to zoom in to see). I'm going to wait until we have clearly broken up or down here over the next few days.

Note

Looks like we retested the support/resistance yesterday and bounced back higher. I would be careful about jumping on the bull side right now as there is a clear bearish divergence in MACD forming. Also Willy is almost overbought. Might need to go sideways a bit first before we either break up or down. Will keep a close watch.

Note

Im getting more and more bearish on this trade. Alerts set for confirmation of bearish divergence on MACD and bearish price structure on the daily. Watching closely. If we break down I will be aiming for the mid 5k mark

Note

Short bid in. Will update if filled.

Trade active

Short fired overnight. Stop alerts and targets set.

Note

Hasn't really moved anywhere. Usually set stop to scratch after a 50% of target move happens.. I think it went like 45%, so stop is still unchanged. Will continue to watch and see if we maybe decide to turn bullish here.

Trade closed: stop reached

Stopped out over the weekend. Closed at 7470. :)

ncorreia

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