BTC/USD SHORT
Updated
BTC/USD SHORT
ENTRY: 34,789.5
STOP: 35380.0
Here are my reasons for entering a short position on BTC/USD.
The confluences for my entry:
✓ Strong overall downtrend
✓ Rejection of major key level
✓ Rejection of 200EMA (1HR)
✓ Shooting star reversal candle printed
✓ Massive spike in volume
✓ 2x Strikes of bearish divergence on lower timeframes
✓ Stochastics trending down out of the oversold bullish control zone on lowertimeframes
✓ Moon Phases are printing a full moon (sell signal) shortly *** [this one is a joke, kind of]
I entered a short position with a stop loss above the wick of the reversal candle.
** this is not financial advice **
ENTRY: 34,789.5
STOP: 35380.0
Here are my reasons for entering a short position on BTC/USD.
The confluences for my entry:
✓ Strong overall downtrend
✓ Rejection of major key level
✓ Rejection of 200EMA (1HR)
✓ Shooting star reversal candle printed
✓ Massive spike in volume
✓ 2x Strikes of bearish divergence on lower timeframes
✓ Stochastics trending down out of the oversold bullish control zone on lowertimeframes
✓ Moon Phases are printing a full moon (sell signal) shortly *** [this one is a joke, kind of]
I entered a short position with a stop loss above the wick of the reversal candle.
** this is not financial advice **
Trade closed: stop reached
I was stopped out for a small loss.After slight drawdown on the hourly candle I entered, finally got into some nice profit within the next hourly and it looked to continue downward. The next hourly candle surprised me with 400+ million market buy orders placed and the price seemed to pump out of no where.
I'm not sure what to take of that other than to continue to look at the higher timeframes (4HR, DAILY) as they still seemed very bullish when I entered.
I guess it's better to capture 80% of a move in a correct than trying to time the top and perfect entry of another.
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