Bitcoin Short Term Trade

This is a short term trade. The price bounces from the uptrend line and Kijun. RSI confirms price reversal. Entry level is 14700.00 with stop below the local swing low at 14000.00 level. Profit targets are 15400.00 and 16000.00 levels.
Comment: If the price breaks the uptrend line and buy orders are not activated, you should delete them and wait for a new trading opportunity.
Comment: The 1st target was reached.
Trade closed: target reached
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i see inverse h&s is forming after retracement and its going to brrak resistance after that. do u think it is death to alts?
good trade, clear target, clear time frame and trend, sometimes trading can be just easy as that.
can i wait to buy @16-15500?
Somewhat new to this... but if it is going to dip will alt coins rise in price?
@Perugini, not necessarily. There is a huge correlation between BTC and Alts, but there are many other factors that go into it. For instance, investors are cashing their BTC out (to fiat, not other coins.) It's good to remember that this market doesn't exist in a vacuum.
Not shooting for 18K or 20K?
mkhaytman cupfish
@cupfish, I'm guessing he sees reasons to doubt it will get that high?
good job mate :)
Awesome, thanks for the analysis!
I like your new style. Keep it up
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