Hello Friends! BitBotly Here with a thought about the current state of bitcoin. Skippy, our algorithmic trader, pointed out that there is a descending triangle building currently. The descending triangle shows all the symptoms:
1. Lower highs connected by a trend-line
2. Similar lows, or lower lows
As we all know, a descending triangle is a sign of bearish continuation, which means that we're waiting for a breakdown of the support level which will lead to greater downside. See how skippy made us 15,000$ this month here
Trade active
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Short Bitcoin Entry: 6960.3 Stop loss: 7003.6 Position size: 25% of (total)capital
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Stop loss moved to 6977.0 :)
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Stop loss moved to 6964 :) Soooo close to break-even :)
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Stop loss moved to 6960.0 Trade is at least breakeven :)
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Stop loss moved to 6942.0 :) Guaranteed profit! :)