Pretty much self explanatory.
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That 6600 to 6750 zone for me is a great short opportunity. It can go all the way to sub 6k from there and risk/reward pretty high, since bitcoin only need to test 6900 with high volume and close above to break that support .
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Time for bitcoin to decide what comes first 5500 or 7100. Im short from 6770
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Still holding that short, if we break 6600 again we could potentially retest 6350, which is a nice first target to take profit. Stop loss still at 6900.
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So i BELIEVE we broke 6600 , now we are at break even for a lot of longs. I will consider moving my stop to profit IF bitfinex shorts will increase AFTER we move down to 6500, since they supposedly closed their positions from 6800 to 6600.
Trade active
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Nice
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Very nice
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So no movement for quite some time, im still holding that short (1/3 sold at 6350).
Mainly aiming for the last move down to 6250 which will probably happen very soon, like in 2-3 hours from now. We might bounce from 6350 to 6470 level but that doesnt seem like a logical thing that bitcoin would do (talking about logic in bitcoin, the irony).
If you followed and want to exit - now is a nice area, you can short bounce if it happens, if not - you will be just hedged which is nice too.
Mainly aiming for the last move down to 6250 which will probably happen very soon, like in 2-3 hours from now. We might bounce from 6350 to 6470 level but that doesnt seem like a logical thing that bitcoin would do (talking about logic in bitcoin, the irony).
If you followed and want to exit - now is a nice area, you can short bounce if it happens, if not - you will be just hedged which is nice too.
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Well now we are here, 3 hours later, didnt touch exactly 6250 (which is sad) but now 6350 should flip to resistance.
Sold another 1/3 and now im pretty much just hedged
Sold another 1/3 and now im pretty much just hedged
Trade closed: target reached