Potential bear divergence in rsi yet to be confirmed, perfect touch of trendline, 78.6% retracement of downtrend, easy stops, huge r/r trade... is worth trying imo. I'm laddering the stops just in case a stop hunt/liquidation hunt happens. Entry 1690 Stop loss 1723 & 1753 (50/50) Targets 1600 (66.6%) and 1560 (33.3%)
Big risk of failure, don't go too big in this trade.
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If it breaks old line and even more if it breaks ath would be a great opotunity to go long on any retest.
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Changed a bit my take profits
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Some lines that could stop the spot price here: BTCUSD in Coinbase BTCCNY in OkCoin BTCCNY in Huobi BTCUSD in BTCe BTCUSD in Bitstamp
I still think it is worth trying, though the more time we spend here without pulling back down, the more improbable it is the pull back will happen.
Trade closed: stop reached
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I failed. There was a massive liquidation of a +60k contracts position and cleared my stops and then china started pushing for a new ATH taking quarterlies over 1800.
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CoinDreamer
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Sorry to hear that..:( Crypto newcomers just keep buying btc..nothing we can do.
homeloanking
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You didnt fail dude, you just read the charts correctly with experience. What do you think of the Japanese influx bringing bitcoin under 50% dominance. Im noticing charts move quicker upwards than ever! Even cheap coins are being bought up
CoinDreamer
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BTC crazy...certianly goes above 2k soon.
kiennv.bk
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Thank you for your advice. I would place my short at 2400 :)). Good try any way :)