BitcoinShort
BTC Update
My last charts got moderated. My bad. Here is my newly updated BTC chart from what is already in play.
I opened up 2 shorts below in the first rectangle and am looking at adding one more short anywhere around the overthrow area of the upper trendline. Looks like a classic expanding top now which I did not think was going to happen, but I did take into consideration after someone pointed it out to me. I understand this is a big area to cover, but on something like BTC, which is extremely volatile, it's best to use small positions. In the case of this project, I am only using .01 positions with 5000 USD Equity on BTC. If I make it to 10000, I will be using .02. They sound small, and some people may not like that, but stacking light positions and averaging lightly is the best way to survive and compound gains. Total BTC dd is around 3%. I would expect a nice push up and a wick from the expanding. However, none of that distracts me from the final goal. 32k area.
I opened up 2 shorts below in the first rectangle and am looking at adding one more short anywhere around the overthrow area of the upper trendline. Looks like a classic expanding top now which I did not think was going to happen, but I did take into consideration after someone pointed it out to me. I understand this is a big area to cover, but on something like BTC, which is extremely volatile, it's best to use small positions. In the case of this project, I am only using .01 positions with 5000 USD Equity on BTC. If I make it to 10000, I will be using .02. They sound small, and some people may not like that, but stacking light positions and averaging lightly is the best way to survive and compound gains. Total BTC dd is around 3%. I would expect a nice push up and a wick from the expanding. However, none of that distracts me from the final goal. 32k area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.