Short

Bitcion, correction on the way

Updated

We haven´t see any breakout during the past days, no any further strength in any indicator. While there is no indication of change of strength, is better to stay out of the market, however after a few tries of a breakout consolidating which never happened, now is the proper moment to enter short. The best view that I have so far is that this is the leg b of a big ABC up (which in this case we need another wave C up after wave b down), but we will get a nice clue on that during this week. Depending on where this correction b goes, we could start determining if this is one thing or another.

At the moment, I´m short in both BTC from 3990 and ETH from 138. Remember that is not easy to enter the market just when is reversing, so in case it test again the last high, I have another short order just there.

Last analysis:

One more push up on Bitcoin, before the end of the leg D

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Note

If you are with me in this trade, don’t freak out if you suddenly see wicks going up, don’t close your short, there is way more room to get filled before another wave up.

Note

I will set a stop loss just below my entry. The downward correction is not done of course, but to ensure your trade is a must.

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So the market kicked me out at breakeven. I’m waiting to see the real strength of this bounce. If I finally see that this is just a bounce made of the binance upgrade, the market should drop again. I’ll keep you guys updated.

Note

Still waiting to see view the volume reacts. As you can see, my trade direction was good, but sometimes get reversed, that’s why protecting your position with a SL is crucial. First 2 lessons that you have to learn in trading:
1. Protect your capital.
2. Grow your capital.

Note

I’ll enter short again 4000 btc and 139 eth.

Note

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Thanks for your support.

Note

Targets still remains the same.

Coinamic

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