A long is still at play.... around 4%

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Entry price of long is around 9200 to 9150
Stop loss is under 9140
Price target is still 9620
Trade closed: target reached: stop-loss was a little too close but profit came in for re longing


Stop loss will be definitely be hit unless its a mental one. They move it a few hundred up and down just for that. String support is still mid 8k's.. This fast and furious drop was just a bull trap.. They are buying but not for others to make any money.
+1 Reply
Jack-Strainer alienteck
@alienteck see I don’t think it will be hit.... long around 9190-9165 and keep your stop loss tight from 9145-9120. If 9000 is broken on the weekly that’s when we see a real fall
+1 Reply
alienteck Jack-Strainer
low was $9020.. Your stop loss was $9140.. in fact it was under 9100 a dozen times in the last 2 weeks.. unless all this is in your mind.. I just keep a tab and buy or sell when I see it reach a level, after a few times my stops got hit which were just wicks to take them..
+1 Reply
Thanks for sharing!
We are actually on the bearish side for the short-term.
The current low market interest might lead to a prolonged correction, and the more times we fail at breaking up, the more bearish BTC looks for the short-term. CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop), and it has been dropping significantly since BTC attempted 10k. For a short-term bullish scenario to work, we would like to see the institutional net positions reversing to an increasing trend.
What do you think of our setup below?
Trade closed!!!! This is bearish target 8800
alienteck Jack-Strainer
wait, are you long or short here?
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