deniskov

BTC catching falling knife

Long
deniskov Updated   
BITFINEX:BTCUSD   Bitcoin
Volume getting huge, going parabolic downwards, signals of a bottom and possible bounce.
Don't buy on margin, but most coins are safe to buy on exchange
Trade active:
went long at $8000, already looking like it's bouncing
Comment:
massive volume, that was the local bottom, profit targets at $9600 and $10300
Trade closed manually:
bounce looks very weak so far, considering taking some profit while it's still above entry point
Trade closed: target reached:
First target reached, taking more profit, if you followed this trade you should have about 1/3 of the initial investment still in by now.
Trade closed: target reached:
second target reached, take all profit.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.