BTC Short 18/4/20 - Levels of interest
These are my points of interest that I am looking at based on the lower time frames looking at the 15 minute chart.
I have a short bias as of the head and shoulders forming on higher time frames and due to my opinion that no new money is going to flow into BTC to push the price up due to COVID-19 and how much free money is available.
I have entered into a short position at 7100 and have my initial SL set at 7250 and a take profit for 50% at 6920 and will aim to ride the rest of the short to 6200 with a SL @ 7042 which is the convergence point of the pennant.
Note:
Max loss will be 10% of trading account if it hits 7250. With an overall crypto portfolio loss of 2%.
Follow me if you want to follow my journey of being a nobody trader to being as knowledgable as I can be.
Maintain or Gain!
I have a short bias as of the head and shoulders forming on higher time frames and due to my opinion that no new money is going to flow into BTC to push the price up due to COVID-19 and how much free money is available.
I have entered into a short position at 7100 and have my initial SL set at 7250 and a take profit for 50% at 6920 and will aim to ride the rest of the short to 6200 with a SL @ 7042 which is the convergence point of the pennant.
Note:
Max loss will be 10% of trading account if it hits 7250. With an overall crypto portfolio loss of 2%.
Follow me if you want to follow my journey of being a nobody trader to being as knowledgable as I can be.
Maintain or Gain!
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