BitcoinUpdated Bitcoin - taking some profits now
This is a quick update on my long term positions.
In my previous update (here) I told you I bought some long term positions between $5,000 - $5,500 and that I was going to take profits at around $6,800 so that I can free up some of my capitals.
Above chart shows how my positions were entered (spread across $5,000 - $5,500). Being the consolidation was too short, and the price is now hitting resistance, I have decided to take those positions that I entered @ $5,000 & $5,100 off the table now @ $6,250 (20% gain)
For the remaining positions (opened between $5,200 - $5,500), I will still take profits at around $6,800.
For swing traders and day traders, the current trend is still bearish, $7,400 - $7,500 is a good price to short.
If you would like to know more, make sure you check my signature section below.
Past analysis (click & play):
Bitcoin, perfect call (300% profits)
Entered $8450, sold around $9,800 (16% profits)
Bitcoin, bought between 6.8k - 7.3k (40% profits)
Perfect call on 12k weekly resistance
Bitcoin dropped from 12k to 7k as expected (40% fall)
Bitcoin dropped to 3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Perfect re-bought target
Education posts:
2618 trade
Top-down analysis
How I draw the trendline
In my previous update (here) I told you I bought some long term positions between $5,000 - $5,500 and that I was going to take profits at around $6,800 so that I can free up some of my capitals.
Above chart shows how my positions were entered (spread across $5,000 - $5,500). Being the consolidation was too short, and the price is now hitting resistance, I have decided to take those positions that I entered @ $5,000 & $5,100 off the table now @ $6,250 (20% gain)
For the remaining positions (opened between $5,200 - $5,500), I will still take profits at around $6,800.
For swing traders and day traders, the current trend is still bearish, $7,400 - $7,500 is a good price to short.
If you would like to know more, make sure you check my signature section below.
Past analysis (click & play):
Bitcoin, perfect call (300% profits)
Entered $8450, sold around $9,800 (16% profits)
Bitcoin, bought between 6.8k - 7.3k (40% profits)
Perfect call on 12k weekly resistance
Bitcoin dropped from 12k to 7k as expected (40% fall)
Bitcoin dropped to 3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Perfect re-bought target
Education posts:
2618 trade
Top-down analysis
How I draw the trendline
Trade closed: target reached
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.
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.