BTC looking Bearish

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Position: Bearish .

First off, I will not be trading this, I will be trading Ether and Litecoin as I think they have more upside potential. However, I wanted to give an update from my last BTC call. We had a nice bounce off of the 8k area and I hope you all took your profits when it hit in the 9k area. I would be cautious as it approaches this 8k area again. We have support points at 8k, 6k, 5k and down to 3.5k. If you are going to trade it I would start by putting martingale points(you must read up on the martingale strategy if you don't know what it is) at 8k with a small position all the way down to 3.5k. Anticipating that it bounces off those points, I would look to take profits once it comes back to the 7.5k-8k range. At this point, you could possibly hold on to half of your position for a reversal, but we won't know for certain until we see how things react once everything transpires.

For a reversal to fully happen we will be looking for a "higher high", break of a short-term trend line , etc.. any of those things, which hasn't really happened yet, the bears have remained under control.

All my posts are not intended as financial advice, just me sharing what i am doing for my trading positions.

Don't stress, pick your points and don't use leverage.

Trade closed manually: Start taking profits, I am out of the trade
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out