I took 2 shorts on Bitcoin recently using supports/resistances at the local max (~$61,800) and psychological price levels that caused a bounce in the chart on the 4hr timeframe ($60k, $58k, $57k, & $54k)
A failed bounce at the $60,000 support caused me to enter the first short at ~$59,500. The first bounce at support occurred at ~$54k which led me to close this short at ~$54,200. This trade netted a 98% gain with 10x leverage .
I missed an opportunity for a long at the next bounce off $54k. I also missed a chance to enter a short with a failed break of resistance at $60k. However, after a rejection at $58k I entered another short with an average price of ~$57,800. I intended to watch the price action at the $54k support that $BTC bounced at in my previous trade. It bounced there again so I closed the trade at ~$54,200 for a 66% profit with 10x leverage.
Check out my other ideas for $BTC trades and analysis $$$
A failed bounce at the $60,000 support caused me to enter the first short at ~$59,500. The first bounce at support occurred at ~$54k which led me to close this short at ~$54,200. This trade netted a 98% gain with 10x leverage .
I missed an opportunity for a long at the next bounce off $54k. I also missed a chance to enter a short with a failed break of resistance at $60k. However, after a rejection at $58k I entered another short with an average price of ~$57,800. I intended to watch the price action at the $54k support that $BTC bounced at in my previous trade. It bounced there again so I closed the trade at ~$54,200 for a 66% profit with 10x leverage.
Check out my other ideas for $BTC trades and analysis $$$
