Bitcoin 5x Dominance Situation...
Got a nice situation here. Dominance has broke down and bitcoin price has held. This tells me the market is comfotable with the bottom as money flows into alts all the while the price holds.
Let's see.
Let's see.
Trade active:
So we are still looking good here. We can see that dominance has bounced, and is now testing that higher low. However, the important thing to note here is dominace decreased again, and price maintained. This is good. Let's see how this develops.
Comment:
BitMEX
#BTC/USD Take-Profit target 1
Profit: 11.9048%
Period: 10 Hours 10 Minutes
Speaking of the devil...lol. Okay, closed 30% of this position and moved my stoploss to entry. This position is not risk free.
BitMEX
#BTC/USD Take-Profit target 1
Profit: 11.9048%
Period: 10 Hours 10 Minutes
Speaking of the devil...lol. Okay, closed 30% of this position and moved my stoploss to entry. This position is not risk free.
As long as btc stays inside of this ascending triangle, I like this. If we were to breach to the downside, I will c-l-o-s-e this with minimal loss and wait for the next tradable trendline or structure. Always have to have a plan that you can execute with no emotions.