Based on an analysis of the Phoenix Ascending indicator, Bad Ass Bollinger Bands, and Linear Regression channel (with custom inputs), I have identified a ceiling target ($37, 500) and 2 floor targets ($32,000 and $30,000). I will open a short position at the ceiling targets and close the short position at one of my floor targets.
Let’s keep our eyes on this and act accordingly. I will post updates as appropriate.
This is not financial advice. I am not your financial advisor. This is my opinion.
Comment
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To be clear, the short position is to be opened on a falling red stochastic relative strength index (sRSI) not a rising red sRSI.
Trade closed manually
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Opened short position: $39,534 Closed short position: $37,648 Percent change: 4.77%
@Ben_vouh see the daily wick, this wick will always be filled!
simpsonepic1a
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Think you all missed that one back above 38k in a flash no time to buy back you must all be kicking your selves for not holding.
Eightchains
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@simpsonepic1a, I'm 100÷ in stables between trades so no worries. 👍
K1LLTHEPAJ33TS
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jk, wick to 39.8 was so fast i couldnt open a short
bed87
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Boy were you wrong!
Eightchains
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@bed87, Not true. To be clear, the short position is to be opened on a falling red stochastic relative strength index (sRSI) not a rising red sRSI. Please have a look at the update. Yeah, the price rose above my target but I haven't open the position just yet. I will enter the position when the red sRSI plateaus and starts falling.