Short

BTC_usd

Updated

* This is not advice, do your own research and make your own decisions.
** We are strong believers and supporters of BTC. We believe BTC is changing and will continue to change the world for the better.

We don't like to short BTC, but will follow this next week closely for a possible trade.

Will we see a top above 10k in this run?
-- Perfectly timed by the td9 indicator with a daily / weekly 9?

The market will tell.

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A correction will come at some point. We would like to bounce off $6200 / $4900 and then go above and stay above 10k.
//

Note

We have gone up faster then expected.

Are we in for four more days to the upside?
We are sceptical of that and follow the price cloesly.

Note

If we get a new high above $12750, we will start believing more in $10000 as a new support level.

Cs still not out.

Note

We are back to 10k.
Big swings.

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Try to be ready both ways.
//

Note

Short in play at 4 hrs double top $9475.
Sl 10150.

Note

*double bottom

Note

If we break down from here we are looking for $7450.

Note

$9500 area getting testet.

A break up could lead us into our stop loss.
A break down could lead us into our target.

The market will tell.

Note

We increased our position at $10250. Sl $10450.

If we break above $10850 and stay there we will accept being on the wrong side of the market.

Note

If we close here or above on the 4 hr chart we are out. If we break down we will reevaluate around our base at $9950.

The danger if we close a trade like this with a hit, is to not trust the strategy next time you get a signal. If you trust your strategy trust your strategy. If your strategy doesn't work as well as it did before reevaluate. Do more backtesting. The market changes and what worked yesterday might not work tomorrow.

Its important to forget about your ego and admit when you are wrong. Learn. Adjust. Be creative. Think outside the box.

We might have the right angle here and we believe in a bigger correction.
But our timing on this trade was crushed by the market this far.

We are surprised of this massive buying pressure as we feel the market is topping and not starting a trend. The market doesn't care.

Trade closed: stop reached

We are out $10855.

Some would rather loose more money then admit they are wrong. We won't.

In heinseight you could say we should have been true to our idea and waited for a daily/weekly/monthly 9, which now is looking more likely. Fewer would have said that looking at the charts when we placed our trade.

And trading is only possible realtime.

Note

The rule of double tops.

But in these waters we don't know if the market treats the intraday or the close as the high on yhe last all time high.

A lot of news coming out. Big bang theory? PWC?

We feel more bearish then bullish and will look for signals these next days.

Trade active

We are back in at $11750.
The way todays 9 candle from the indicator looks combined with a weekly 9 makes us believe profits will be taken.

Note

We bounced around 10k. We expect this level to be tested again.

Sl set in profit at $11650.

Trade closed: stop reached

Sl reached with small profit.

No trade zone $11000-$12000.

New idea coming during this week.

Note

Guess that's why we don't short BTC much.

Soon the question could ve if we will ever be under $10000 again?

saga_aventura

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