BYBIT:BTCUSD
In the last trade, we took a small loss of $200 USD per Bitcoin, or about 2.7%,
, I was expecting a short term bottom at about $7,230 USD, but it turns out we dip below that to about $7,160 USD, just before it pumps. That is fine, whipsaws are part of trading. This is the second attempt to pick that small short-term bottom.
As you can see on Bitcoin CME Futures Chart, we had a Gap from $7,800 USD to about $7,544 USD, meaning the price jump from that level to the other one, without any trades made in between. Statistically, 90% of all gaps get filled, meaning that Bitcoin will eventually had to rise above $7,800 USD to fill the Gap, and that should happen soon.
Also may original Elliott Wave Count is still valid,
, just that Minute Wave B will end a little lower. It could still go lower, but after that Bitcoin should rise above $7,900 USD.
So I’m entering long here, at $7,300 USD, with a stop at $7,140 USD, on my Bybit Account , www.bybit.com/app/register?ref=A1xm7 , at 3X leverage again, with a price target of $8,600, I’m risking $160 USD or about 2.2% per Bitcoin, to try to win $1,300 USD, or about 17.8% per Bitcoin. And if you are 3x leverage, well, that is 3x that.
My price target is still the same, $8,600 USD. Also note that the price on the CME Futures is slightly higher than in the Bybit Exchange which it is right now at exactly $7,305 USD, vs $7,360 USD on the CME Exchange.
I’m using close stops, which increase the change of getting stopped out, but they also offer higher protection for your capital when things go wrong.
Well, there you got the trade, long here at $7,300 USD with a stop at $7,140 USD and a target of $8,600 USD.
Good Luck to You
In the last trade, we took a small loss of $200 USD per Bitcoin, or about 2.7%,
As you can see on Bitcoin CME Futures Chart, we had a Gap from $7,800 USD to about $7,544 USD, meaning the price jump from that level to the other one, without any trades made in between. Statistically, 90% of all gaps get filled, meaning that Bitcoin will eventually had to rise above $7,800 USD to fill the Gap, and that should happen soon.
Also may original Elliott Wave Count is still valid,
So I’m entering long here, at $7,300 USD, with a stop at $7,140 USD, on my Bybit Account , www.bybit.com/app/register?ref=A1xm7 , at 3X leverage again, with a price target of $8,600, I’m risking $160 USD or about 2.2% per Bitcoin, to try to win $1,300 USD, or about 17.8% per Bitcoin. And if you are 3x leverage, well, that is 3x that.
My price target is still the same, $8,600 USD. Also note that the price on the CME Futures is slightly higher than in the Bybit Exchange which it is right now at exactly $7,305 USD, vs $7,360 USD on the CME Exchange.
I’m using close stops, which increase the change of getting stopped out, but they also offer higher protection for your capital when things go wrong.
Well, there you got the trade, long here at $7,300 USD with a stop at $7,140 USD and a target of $8,600 USD.
Good Luck to You
Trade closed: stop reached
Comment:
O.k., this is the third and last try of this long trade on Bitcoin. In at $7,200 USD, same as the last times, same target, and same Elliott Wave Count, just with the B wave a little lower. With stop at $7,080 USD. Risking $120 to try to win $1,400 USD.
And yes, I’m already down $360 USD from the last two failed trades. Will see if we make it up this time.
Good Luck to You
And yes, I’m already down $360 USD from the last two failed trades. Will see if we make it up this time.
Good Luck to You
Trade closed manually:
Out at $7,520, with a $320 USD gain. It could go higher, but I'm being carefull here.
Good Luck to You
Good Luck to You
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