I am sharing my full trade for Bitcoin (XBTUSD) as promised... but first, let's take a look at the chart:
We can see strong resistance being faced by Bitcoin marked by the EMA lines. We can see that EMA10, EMA200, and EMA300 are all sitting between $10,300 - $10,316 (strong resistance). EMA50 and EMA100 are now at $10,279 and $10,271 respectively... If Bitcoin closes below these levels, we can expect further down. If it can move back up with strength and volume, then we can consider a move up. The green and red trendlines needs to be broken for further upside.
MACD and RSI are trending down.
Please remember that leveraged trading (BitMEX / PrimeXBT / BitFinex / Bybit) is high-risk and for advanced/experienced traders only.
This is not financial advice.
Below you can find the full trade... We already hit our first target on the 10th Sept., but if the setup plays out it will hit again... Feel free to leave a comment if you have any questions.
____________________ Trade: SHORT XBTUSD (Bitcoin)
Leverage: 8X
Buy-in: $10,333 - $10,150
Targets:
(1) $9,900 (2) $9,750 (3) $9,600 (4) $9,420
Stop-loss: Close daily (1D) above $10,500
Liq. price: $11,855 (Buy-in calculated at $10,250)
Potential profits: 70.48% ROE
Capital allocation: 6%.
Date: 9-Sept-2019 | 5:11 AM UTC-4 ____________________
Thanks a lot for the support.
Make sure to hit like, follow and comment for more profitable trade ideas.
Namaste.
Note
Take a look at our trade for EOSU19, this one is at 120%+ ROE... Let me know what you think in the comments...
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Note
Market Cap BTC Dominance (BTC.D) Shows Additional Weakness
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XBTUSD still moving inbetween resistance and support:
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