Exit Pump Visible on Bitcoin - My Thoughts on a short.
Hello All --
While the RSI and MACD is showing an uptrend here -- we are approaching a major sell off on bitcoin. I have priced in three points to short bitcoin. I will be riding this short up to 5250 at which point I will cut my losses if it keeps going up. I am fairly certain it wont.
Should be a nice short down to 3800, 3500 and maybe 3200 levels. Best of luck. As always use Stop losses. A good strategy is to keep a 10% trailing stop.
While the RSI and MACD is showing an uptrend here -- we are approaching a major sell off on bitcoin. I have priced in three points to short bitcoin. I will be riding this short up to 5250 at which point I will cut my losses if it keeps going up. I am fairly certain it wont.
Should be a nice short down to 3800, 3500 and maybe 3200 levels. Best of luck. As always use Stop losses. A good strategy is to keep a 10% trailing stop.
Comment:
You should short at 4490, 4850, 5300.
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Maybe follow the yellow line.
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Trade active:
Thank you for the nice comments everyone. Markets are showing a bull sentiment, but it makes no sense for it to be bull. There is going to be some buy back for the folks who sold the FUD -- but other than that it doesnt seem like anyone wants to buy bitcoin at this price (yet)
Comment:
Down we go! Weeeee
Trade active:
Tasty short -- i think we go sideways not then either more down or pump to a new ATH. Lets see.
Trade active:
Nope .. straight down.
Trade closed: target reached:
MACD and RSI are now screaming buy. It may go further down, but I am out. Enough profits for me. Best of Luck.
Comment:
Going back and closing / learning from my idea. How good was this? :D