Wow. Well we finally got the pullback I've been patiently waiting for after exiting my last trade. Once again, I have no real interest in chasing a move and will patiently wait for lower risk entries on trades. I've been talking about that 12 EMA for a while now and how far ahead price action had gone. We finally got the bears involved yesterday and price came down quickly. I had my buys set just above and just below the 12EMA personally and was fortunate enough to fill my entire position that I wanted with an average at about $10,550. So currently I am in a small profitable position and will seek to lock in some short term profits as the bounce overall has not been significant enough to convince me bears are done for the short term. Volatility can destroy positions for those without a plan and can make for enormous gains for those who do have a plan. Keep losses small and continue to lock up profits.
12 EMA on Coinbase was a bit different than most other exchanges as BTC went below the 12 EMA by nearly $300 (almost 3%) where as most other exchanges were at about 1% below the 12 EMA if this in fact does hold as a the bottom for the pullback. But overall looking at a 25% pullback from the top. Will patiently see what the bulls can do here and lock in some profits just to lower my cost basis and allow for a bit more wiggle room on my stop losses.
Just My 2 Sats!
12 EMA on Coinbase was a bit different than most other exchanges as BTC went below the 12 EMA by nearly $300 (almost 3%) where as most other exchanges were at about 1% below the 12 EMA if this in fact does hold as a the bottom for the pullback. But overall looking at a 25% pullback from the top. Will patiently see what the bulls can do here and lock in some profits just to lower my cost basis and allow for a bit more wiggle room on my stop losses.
Just My 2 Sats!
