dragononcrypto
Long

BTC Playing The Long Game

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BITFINEX:BTCUSD
Stop Loss: 9.5%. Target: $8,500. Risk/Reward: 3:0
Breakout Hype Incoming
Oct 08
Trade active
Oct 15
Comment: Can't complain :-)
An unconvincing breakout of the blue triangle completed, finally bounced off the resistance trend however. The price now needs to hold the $6,600 level, instead of breaking back below into the magnet zone. Key resistance level: $6800. Will likely be adding the other 50% of the position with a tighter stop loss,, if there is a UTC above this level (and breakout of the red triangle), while raising stops on the $6,600 position to break even. Bare in mind, a false break out of the $6,800 level, or continued rejection, would test support initially at $6,450, followed by $6,100 and the big $6k.
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