Short correction and pullback, depending on how much the pull back will be we can either pull back to previous trend line, and bounce to continue up. Or break out of the current trend line and continue up.
if the bottom trend line breaks we can enter bear market. Doubt that will happen though because lots of noobs trading. Hopefully Institutions will short the fuck out of the market and depress it. Because at this point its way over extended.
How do we trade this?
If you have not yet covered your long you will want to close long trades
If you are short you will want to stay short until you have confirmation of BTC going higher. (EX over $17,171)
If you want to short you can short under $15,500
STOP LOSS $1,000 - $16,500
Risk $1,000
Reward $1-2-3-4k????
Have fun traders!
if the bottom trend line breaks we can enter bear market. Doubt that will happen though because lots of noobs trading. Hopefully Institutions will short the fuck out of the market and depress it. Because at this point its way over extended.
How do we trade this?
If you have not yet covered your long you will want to close long trades
If you are short you will want to stay short until you have confirmation of BTC going higher. (EX over $17,171)
If you want to short you can short under $15,500
STOP LOSS $1,000 - $16,500
Risk $1,000
Reward $1-2-3-4k????
Have fun traders!
Trade active:
Short Was Taken @ $15,400
Trade closed: stop reached:
Close Trade @ $13K
Trade active:
Long @ $13K
Trade active:
Target $15,500
Comment:
Partial Should Have done the rest of the shares @ $17,200 -20k+
Trade closed: target reached