My strategy for Bitcoin short-medium term
Updated
I am often looking on the 4H time-frame ( BTCUSD ). My strategy is to tackle this guy (BTC) from two directions longing and shorting it in the same time but within two distinct actions. Though I never sell the whole quantity of BTC means that on longing side I could be caught up on longer term with open position, trying to cover up to 60%-75% drop. On the other way avoiding boring market actions I am bringing in the short game the quantity of BTC that I already own plus the other from open orders. Profits targeted for the both sides are between 10% up to 20% per deal. The main objective is acquire more BTC.
A good short-term set-up is emerging as both the candle action and the 4H RSI are forming a sequence that reminds me about 2nd week of March pattern (series of HL and HH)
The price is at the stage where it is above the 4H MA50 (red trend-line) and below 4H MA100 (white trend-line) and is about to come outside of the consolidation pattern. In March happened to broke the resistance within one week. Thus following the same pattern I am planning to target first the 51k area (slightly above 1D 200 MA) than following channel up the 60k area.
On short side, the first level of sell would be around 43k, following 45k and so on (avg 3% pace).
If the market shakes hard and bears are turning out the price to the 33k level then I will accumulate more coins (longing) and I will try to close lower as possible short positions.
What do you think? Feel free to share your work and comments below!
A good short-term set-up is emerging as both the candle action and the 4H RSI are forming a sequence that reminds me about 2nd week of March pattern (series of HL and HH)
The price is at the stage where it is above the 4H MA50 (red trend-line) and below 4H MA100 (white trend-line) and is about to come outside of the consolidation pattern. In March happened to broke the resistance within one week. Thus following the same pattern I am planning to target first the 51k area (slightly above 1D 200 MA) than following channel up the 60k area.
On short side, the first level of sell would be around 43k, following 45k and so on (avg 3% pace).
If the market shakes hard and bears are turning out the price to the 33k level then I will accumulate more coins (longing) and I will try to close lower as possible short positions.
What do you think? Feel free to share your work and comments below!
Note
The last step of accumulation at 32900. Let's see where it goes...
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