Selling from accumulated positions at or near 234 - target bottom of current market structure near 227 - using a trailing stop if we see lower, but will close if things move much higher from here.
BTC is the leading indicator, and I think there may be a test of 7500 in the works. If this position moves into profit, I will monitor for a better profit target.
Trade active
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217 would be a longer term target before a renewed uptrend
Trade closed manually
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Closed at 229.50ish was leveraged and I am happy with the result as I have only made a few bitmex trades. I think it may go lower, but I don't want to be too greedy. BTC did wick just above 7500 - which I think is decent long term buy (not leveraged) for the correction from 9K. Not sure if I have it in me to push my luck and go leveraged long today on anything.
Closed at 229.50ish was leveraged and I am happy with the result as I have only made a few bitmex trades. I think it may go lower, but I don't want to be too greedy. BTC did wick just above 7500 - which I think is decent long term buy (not leveraged) for the correction from 9K. Not sure if I have it in me to push my luck and go leveraged long today on anything.
BillCharison
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Good analysis, appreciate!
JJMa
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@BillCharison, Cheers, the proof will be in the pudding, but because it's come down so much, this one has to be played with tight stops, the selling can't go on forever.