BTC back to the bottom

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
1197 6
Back to the bottom for one last capitulation push. Shorting at 7.8k with take profit at 5.8-6k. Looking to go long after that
Trade active
Comment: Put stoploss to breakeven at 7100
Comment: Stoploss to breakeven now. Sell volume declining
Comment: Took 50% profits here, stoploss to breakeven on the rest. Not liking this price action
Trade closed manually
what about the price action made you hesitate?
+1 Reply
douglasaa Stangnyc23
@Stangnyc23, decreasing sell volume, increasing buy volume and bullish divergence showing on the RSI on the shorter timeframes
douglasaa Stangnyc23
@Stangnyc23, also order book analysis, build up of short positions on bitfinex. The perfect recipe for a short squeeze
good close
+1 Reply
be carefull
+1 Reply
douglasaa ErsozSozer
@ErsozSozer, yep this is a risky trade. more looking to sell at 7.8k and buy back in lower, than short on margin
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