We are now at a crucial level for BTC because we're at two major resistances close together:
- horizontal at $6800 and
- diagonal 9 month resistance at around $6950
My guess is that we don't break it and we go down towards $6000 back again. Unfortunately. Or even lower.
Generally I'm still long BTC with my holdings but this will be a hedge short into a recent support at $6600.
E @ 6730
SL @ 6800
T @ 6600
RRR: 1.86
- horizontal at $6800 and
- diagonal 9 month resistance at around $6950
My guess is that we don't break it and we go down towards $6000 back again. Unfortunately. Or even lower.
Generally I'm still long BTC with my holdings but this will be a hedge short into a recent support at $6600.
E @ 6730
SL @ 6800
T @ 6600
RRR: 1.86
Trade active
It's been a while. BTC has been so boring until today. Woke up to this swing low so decided to take a new trade:E @ 6150
SL @ 5950
T @ 6550
RRR: 1.75
Also waiting for the end of the triangle that's been forming for the past 9 months or so... Fingers crossed.
Trade closed: target reached
Another profitable trade. Bart Simpson at work again :)Trade active
All RSI indicators are oversold, especially on 1D that's not been below 15 in couple of years so I think that's far down low for now. Let's see how this goes...E: 5089
SL: 4970
T1: 5600
T2: 5900
Trade active
Another couple of trades gone wrong so moved down to the next support level around $3550. New long open:
O: 3600
T: 4100
SL: 3480 since I think 3500 is a mental level for many so $20 below...
If 3500 level is broken, we'll go down to 3k-ish. If we break 3500 I'll try to short it towards 3100 probably if I'm near the computer.
Not really bearish or bullish right now. Already gave my bearish scenario but for me to get bullish again we need a new HH and HL back to around 4k.
Trade active
Lol that was fast...Previous trade got nuked so I believe we will go to the 3k-ish level that's why I'm shorting.
Not done many shorting before so there's a high chance I might be wrong here but I have to learn at some point :) Anyways:
O: 3500
SL: 3600
T: 3000
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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.