BEARISH MARKETS DO NOT END ON GOOD NEWS! BTC
Updated
I want to start of by saying that markets never turn to bullish on a decrease of volume. Volume decrease is a sign that big money players are not interested and waiting for monumental drops before they get back in. If you study the psychological aspects of market trends bearish markets normally end with the feeling of depression and even anger. At the current state BTC has relatively good news and the public sediment is not depression or anger. On top of that we have a fundamental reason with the COVID-19 corona virus worldwide epidemic which caused the catalyst for the drop that was destined to happen anyways due to decreasing volume overall.
For this idea i have 3 entry points and 3 exit points. The reason for having these entry points and exit points is scaling into and out of positions decreases risk and limits your exposure.
Entry points : 6600,7000,7400
Exit points: 4800,4200,3200
Make sure to only use this as an idea and that you are making your own trading plan even if it's similar to what i'm suggesting. Which includes your own stop loss points and your own profit taking points.
My stop loss im looking to have is about 10 percent with my scaled entries, roughly around 7800 area. This trade is a 10 percent risk with over a 50 percent reward which is 5X R/R.
Please comment your ideas and hit the like button if you like this analysis.
For this idea i have 3 entry points and 3 exit points. The reason for having these entry points and exit points is scaling into and out of positions decreases risk and limits your exposure.
Entry points : 6600,7000,7400
Exit points: 4800,4200,3200
Make sure to only use this as an idea and that you are making your own trading plan even if it's similar to what i'm suggesting. Which includes your own stop loss points and your own profit taking points.
My stop loss im looking to have is about 10 percent with my scaled entries, roughly around 7800 area. This trade is a 10 percent risk with over a 50 percent reward which is 5X R/R.
Please comment your ideas and hit the like button if you like this analysis.
Note
When making this analysis i thought i was on binance not bittrex. on binance the volume shows similar decrease so is still a valid example.Trade active
Entered shorts at 7400 SL 7800
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