Short

Bitcoin selling?

By gon08

Updated

bitcoin is having some weird bullish signals, maybe is not that crazy to think on selling now

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I meant BEARISH signals, not bullish, sorry for the typo

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After very clear signals of supply coming, the price went down, no my stop loss is at breakeven with good profits so far, intraday and daily charts looks good with increasing supply, lets wait and analyse how the price and volume acts on the support, and decide if we are gonna take profits or continue selling after a reaction of the price.

Trade active

Note

the price now reach our 2 targets, in the 1H chart now theres a climatic volume that suggest strong hands are now in, I thought price was continue going down, but with this climax, we should see the formation of a trading range or a reverse on the price, I still have my position open, but I took profits and wait for another signal to sell more or close the position.

Trade active

we secure our profits already but the trade became more difficult than expected, this morning price did a selling climax with huge volume with suggest enter of strong hands again, then the price went bak to the trading range and broke up the resistance level.

At this point I'm having some doubts about the position, the rally was on low volume which make me think that was the weak hands trying to buy more bitcoin, and now the price came bak to the trading range, I entered short and Im expecting price goes down to the target, but it may be a high risk trade at the moment.

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Possible short term trade to add to the position

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Moving SL to break even

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adding to the sell position, after weak money rally

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Excellent trade so far, this week bitcoin has given us so much profit, we are still in with 3 short positions

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taking profit now of my 2 short term positions, my long term position is now in break even

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I have now 4 points of selling, at this point this trade has been so much profitable, and I already took some profits that I'll just wait to the price to touch my SL or the price continue its way down, It's been a stressful week so I won't check this trade anymore, probably I'll post a new idea in some weeks with another pair.

Trade active

trade is developing great so far, don't let your emotions overcome you, stick to the plan always!! and just read the chart!

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So, institutions are in... let's be careful and try to figure out what are they doing, don't buy at this time!!!!!!

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added to the current position

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ok second try, I entered again if price touch the SL again then we wait for a better opportunity

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We can move the SL now to secure profits, and take profits in the next level

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ok, we are out with a small profit on last trade, we still need to analyze the trading range, it seems that sellers are in with that big spread candle, remember that institutions sell on bullish candles

Trade active

So, after a couple of short term trades that went wrong, now I have 8 short positions that are with profits, price move the same again and again and again, smart money selling on the highs and dumb money buying. Im still thinking that price will test the low at 60800, and price will have a chance to do a lower low, if that happened we will have chances to see lower prices and expect maybe price go to the 59k zone.

Trade closed manually

Ok, at this point price is giving now some bullish signals, so im out at the low of this last swing, was a pretty good trade with good profits, preparing to put a buy order in case bullish signals are confirmed or re enter short at higher point.

gon08

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