BarclayJames
Long

Bitcoin (BTCUSD, XBTUSD)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
My trade: active long since $3490

Bitcoin is in up-channel within larger down-channel.

200 daily MA (red line) is forming the upper edge of the down-channel (log downtrend).

Bitcoin has broken above the cloud and successfully retested 100 MA (green line) as anticipated, showing some strength imo . Currently riding the up-channel median.

I expect test of top of up-channel, with possible break out above.


Other active trades: Bitcoin Cash BCHUSD ( BAB )
Comment: Heavy dump, but 100 MA support still. I lost about 50% of profits so I will just hold, can dump. Loss of 20 MA (blue) and I will probably exit.
Comment: If you extend the channel (linear chart)
Comment: Still comfortable on BTC, that's why I don't like to buy break outs. If this is a bear flag then we should move to 5k to complete flag. See above chart
Comment: Trade still active
Trade closed: target reached
200 MA rejection + closing the crash gap....sell the wick above 5k !
+1 Reply
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