Looking at a short possibility on BTC, from the 8950 area to the 8150 area. Sensing some price exahustion here and Stocks look llike they are in for a bad day as well which correlates to BTC. I choose this target because of the long wick on the 7 candle that went $600 beyond the close to 9450 area. Normally when we close below a candle like that we go that same distance the opposite way which would be around 8150 in this case. Stop at 9150
Trade closed: stop reached:
I was stopped out in profit at 8888, going to reevaluate over the next couple hours and possibly jump back in or go long depending on price action
Trade active:
After further review I am back in the short trade at 8809 still hoping for a correction to 8200- 8100 area
Trade closed: stop reached:
stopped out again at 9800 hundred and switched to a bullish trade at 8920
Comment:
bullish trade stopped out at 8868, market is too indecisive, will check back later tonight
Trade active:
I like this for an uptrend now, back in a bullish trade at 9157. hoping for 9800. stop loss 9100
Trade closed: stop reached:
stopped out once again, looking for a reentry around 8900 where support has been formed, shorting still doesnt feel right here.
Trade active:
Back in the bullish trade at 8888, stop loss is 8730.
Trade closed: stop reached:
stop barely got hit, because it bounced right around that area I am now looking for another entry under 8800
Trade active:
re shorting at 9021, based on a possible descending triangle on the 4 hr chart. stop loss is around 9150 and target is now 7500 based on the triangle
Trade closed: stop reached:
stopped out
Trade active:
re entered short at 9240 looking for at least the 9050 area, where I may flip to a long position depending on how it gets there
Trade active:
break even stop was hit and we traveled all the way to 10K. Go bitcoin! I have now entered a short at 9900. 9500 seems like a reasonable target.
Trade closed: stop reached:
Stopped out in profit at 9750 I will reevaluate and may continue to short in a couple hours
Trade active:
Reentered short at 9780 seeing a possible head and shoulders on the 4 hr chart that could lead to a drop to at least the 9100 area
Trade closed: target reached:
well that came sooner than expected...Extremely accurate target here if you look at my first post, was a little off on the entry point but sticking to the plan ultimately paid off