Bitcoin (BTCUSD): Drowning Deeper

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Previously, we were looking to capitalize on the next leg of correction, which began on Dec 8. It was likely to take the form of either Flat (3-3-5) or W-X-Y 0.68% (3-3-3), and push the price down to $12 800 and below. Price hit the target quite fast:

Now, as correction has been confirmed, the price should drop to the next target of 12 000. Watch the minor pitchfork as it defines the intraday price channel .

Event Risk
Today is a big day for crypto: CBOE is scheduled to launch first-ever Bitcoin futures . This news is great because it will allow institutional traders to get involved.
Comment: From the risk-reward perspective - which of course is at the heart of trading - the optimal entry for short is within 13 900 - 14 100 box. Not sure it gets there, but still:
Comment: Price is getting to the entry zone. These are my trade parameters. Not keen to risk much here because correction is complex - it's better to set up another trader when the wave structure is more clear. So, stop-loss is just 3% away from the entry:
Trade closed: stop reached: That's why I didn't want to risk much on this trade. Stopped out, -3%.
Копи-трейдинг с NixFutures:
Сигнальный сервис Nix BitMEX. Статистика за январь:!Ajd5AIC0Lu0am1NPmybTxokSKhvr
lame prediction
+2 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out