dsgorthy
Long

Bitcoin (BTC) MA Death/Golden Cross Analysis (Part 11) --> +40%

CEXIO:BTCUSD   Bitcoin / U.S. Dollar
Welcome to my 11th segment in my golden/death cross analysis! We've just ended a short position, not too eventful, and broke out into the long position earlier today! Remember that we will sometimes buy above our previous sell, but we're minimizing risk in the meantime. Below are the segments that we're tracking!

Segment 5
  • 04/08/2018 - BUY $6,900
  • 04/25/2018 - SELL $9,000
  • 05/02/2018 - BUY $9,200
  • Beginning ($): $10,700
  • Ending ($): $13,950
  • Beginning ( BTC ): 1.55
  • Ending ( BTC ): 1.51

Segment 6
  • 05/02/2018 - BUY $9,200
  • TBD - SELL TBD
  • TBD - BUY TBD
  • Beginning ($): $13.950
  • Ending ($): TBD
  • Beginning ( BTC ): 1.51
  • Ending ( BTC ): TBD

Let's hope we see another bull run. We're setting the sell point at the MA!
Comment: We're well past our buy-in for this leg, meaning we've locked in profit against USD! I've established this parallel channel to track our movements inside. For now, we're staying in the upper half of the channel, but I am expecting some movement back towards the center because RSI is showing slightly overbought.

We're still long and are pretty far from our sell point, so expect to hold this position for the weekend!

Trade closed: stop reached: We hit our stop earlier today at $9600. I'm not confident that this is a clean reversal, but we will be following the strategy. I'll be holding off on this segment until we see movement away from the MA. See the channel, intersection and MA below!

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