MichaelLe Rossignol
Short

The market has spoken: It's time to go Short !

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have been in a tight range for one months.

Following my previous analysis here, we have now broken the lower part of the range.

Accordingly, it is time to take a short position.

Here is my plan:

Trading Plan to Sell:

Entry price: Around 610$
Stop Loss: We exit if the price goes back into the range at 650$.
Take profit: Before the second major support and before other traders take their profits at 520$.

Risk/Reward Short: 40$ / 100$

Good Luck!

If you want to learn more about Crypto Trading, check out this free Bitcoin trading Class
Profits had been taken and we now have a new setup
Reply
you have great analysis :)
+1 Reply
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