These are my 2 cents on the current state of the market. It is still neutral, there is no bear or bull market. Cryptocurrencies are notorious on their volatility but we saw a stable period. Due to that, we can treat this sudden spike as just that, a spike that will correct itself. For anyone interested in trading this last half of 2019 on BTCUSDT here's what I will do
28.05.2019 :: Short BTCUSDT /w Start: 8700 TP: 6540 SL: 9100 which nets me a 5:1 potential P/L.
2 scenarios after the first position ends.
I. The Bulls win scenario: Enter: 7000 TP: 11.400 SL: 5800 which nets me a 3.5:1 potential P/L. This is due to the uncertainty of the market.
II. The Bears win scenario: Enter: 5700 TP: 3800 SL: 6600 which nets me a 2.5:1 potential P/L.
As you see, the safest and profitable period to trade right now is TODAY.
As a side note, if you wish to check a quick snapshot of a coin or more markets, check CoinExchangeData as it draws data directly from exchanges.
Happy trading!
28.05.2019 :: Short BTCUSDT /w Start: 8700 TP: 6540 SL: 9100 which nets me a 5:1 potential P/L.
2 scenarios after the first position ends.
I. The Bulls win scenario: Enter: 7000 TP: 11.400 SL: 5800 which nets me a 3.5:1 potential P/L. This is due to the uncertainty of the market.
II. The Bears win scenario: Enter: 5700 TP: 3800 SL: 6600 which nets me a 2.5:1 potential P/L.
As you see, the safest and profitable period to trade right now is TODAY.
As a side note, if you wish to check a quick snapshot of a coin or more markets, check CoinExchangeData as it draws data directly from exchanges.
Happy trading!
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.