-Trade Based off of Data, not Emotions
-Same Input = Same Output. If you don't do the same thing consistently, how do you know what you are doing wrong?
-Patience. There will always be another trade, another setup.
What's happened over the last 24 hours?
We've seen a moderate market sell off across the board. Ethereum breaking critical support I believe was the trigger for this sell off, causing about 3 Billion to be wiped from our total market capitalization. We're seeing everything test it's critical support right now, from BTC to TRX . The next few days will be indicative of whether we will see a continuation, or revert back into the bear cycle. As I've stated many times, I do not believe 3400 will support Bitcoin's price so a failure of these current levels will lead to a re-test of the previous yearly lows of 3200-3100 and potentially lower.
BTC /USDT Now
-Critical support at 3650 held, as you will recall my final down-side target of our oringal XBT/USD short.
-There is a liquidity pool directly below that level at 3570. Limit buy orders in that range would not be foolish should we consolidate sideways for the next few days in this range between 3650-3800. That would be a likely liquidity grab zone.
-The level of 3840 still represents our critical resistance, we need to close above that level for a continuation.
-The levels of 3900-3970-4023 still stand as upside targets should price begin trading above 3840. Until we have a convincing daily close above 3970, that scenario only represents a liquidity grab. Daily closes above those initiation levels/take profit levels is still necessary for a true continuation to 4600.
-15% of my XBT/USD short is still open on my main account.
-Closed XBT/USD Long on hedge account at a loss.
-Closed XBT/M19 Long at break even in profit after first take profit level hit.
~Manage Risk, Trail Stops, Lock in Profits~
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