Bitcoin 10x Long - Decision Time

I have taken a lone 10x trade on Bitcoin. Let me share some reasons with you.

First off on the 4hr chart we can clearly see a nice 4hr hammer wich happened to bounce off of the .618 fib of the move up. Also we can see a change in the histogram, oversold rsi, bullish rsi divergence, and potential macd cross. Count me in.

On dominance we can see a bounce off the bottom of the wedge and somewhat of a reversal pattern. If this pattern fails we can expent alts to continue to pump, and btc price to continue to fall. If this reversal is real and we see continuation, then we can expect alts to lose all their gains and btc price to move up. The real determining factor will be to which side this wedge breaks. That will be huge!

Comment:

I closed that trade with a little loss, and longed again here. my breakeven point is 10075. Here are the specs of the current trade.

#BTC/USD
Exchanges: BitMEX
Signal Type: Regular (Long)
Leverage: 10

Entry Zone: 10000-10150

Take-Profit Targets: 10250-11500-12000-14000-15750

Stop Targets: 9800

If It gets to breakeven then I will close this and long from the trendline.

with the following specs.

#BTC/USD
Exchanges: BitMEX
Signal Type: Regular (Long)
Leverage: 10

Entry Zone: 9800-10000

Take-Profit Targets: 10250-11000-12000-14000-15750

Stop Targets: 9500



I am very bullish because of the global macro economic situation. It is only a matter of time before we moon. This is just whales shaking the market out. We are going up for sure.

Comment:

Closed the second trade breakeven. I will be waiting at the trendline.