Greenhill
Short

Critical BTC Level! Resistance here held before! Breakout or not

BITFINEX:BTCUSD   Bitcoin / Dollar
2202 19 50
The Big move up today was very Fast, the current level has been Resistance before as the red arrows down show.

i have opened a short with a slightly bigger stop..

if the Green upper line breaks! expect a longer breakout target of 730!

if we break down as i hope with my short target to take profits below 655.
Trade active: have kept this short open. 4500 support has slowly turned Resistance.

i am expecting to go lower, will take drip profits starting at 655 down to 630.

i
Trade closed: target reached: Had a trailing stop hit over night.

70% of position closed between 640-645 with order in the book. 640 was the major support level as indicated by the target box. we reached the very bottom of the target.

the remaining 30% closed on a trailing stop today at 653 levels.

An excellent Trade, Really enjoyed, had to be patient but massaged the short all the way down buying the tops, selling the dips. we started with a 685 base, ended up to 700+ base before we profit taking started.

currently price is sitting at 660 level, will wait to see the 2H-4H to take a new position, if we have a Breakout with good volume up will long it . if 660 holds over night that will be also a signal to long.

Currently Shorting ETH only position open please check that chart & comment.
Greenhill for president!
Reply
Greenhill btc_joe
hahah :-) i make BTC the number 1 currency in the world ... Vote Green ..
+1 Reply
This going to bounce? The price is on the daily triangle, and daily rsi trendline.
 
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Galvin Galvin
https://www.tradingview.com/chart/vWfXCqkF/

Chat snapshot didn't work for some reason.
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very good man! excellent work!
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I think this could test support at $610. Are your shorts still open?
Reply
Greenhill m_murfy
Yeah short still open, have taken some profits at 640-639, base now over 700. its in good shape. next support level down 4270. will be looking to close & if it breaks up will take profits at 4400
Reply
Well played!
Reply
Greenhill WayneSwart
thank you yeah went well
Reply
looks like price started to go sideways. maybe its time to close?
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