Hello, altho dropping further down is still a option i think it may be likely that we found local bottom soon.
There are some big orders at Coinbase for btc at 20k and Eth 1000 USD, which gives further confidence in this setup.
It seems likely to me that we range trade between red and green Zones.
Having stop loss on eth at 960-70 in case im wrong (hopefully thats not too close)
I will open a long on eth if we retest 1000 usd range (green lines)
I have no doubt about going lower this year, but maybe not yet.
This is a (risky) Daytrading setup with close stoploss.
Fundamentally and mid/longterm speaking i think Crypto is likely in a bubble altho we could see another bullrun after Eth at ~400 USD and BTC ~10k range test.
Thats why im more comfortable shorting crypto and i see this setup as a little above average risky.
Only invest what you can afford to loose and please do your own research.
Leave a like if you found this useful =)
There are some big orders at Coinbase for btc at 20k and Eth 1000 USD, which gives further confidence in this setup.
It seems likely to me that we range trade between red and green Zones.
Having stop loss on eth at 960-70 in case im wrong (hopefully thats not too close)
I will open a long on eth if we retest 1000 usd range (green lines)
I have no doubt about going lower this year, but maybe not yet.
This is a (risky) Daytrading setup with close stoploss.
Fundamentally and mid/longterm speaking i think Crypto is likely in a bubble altho we could see another bullrun after Eth at ~400 USD and BTC ~10k range test.
Thats why im more comfortable shorting crypto and i see this setup as a little above average risky.
Only invest what you can afford to loose and please do your own research.
Leave a like if you found this useful =)
Comment:
lowering my entry to 960-1000 and sl 3% below as i fear my stoploss is too close
Comment:
this is the total crypto marketcap chart...the idea is basically testing this HUGE RED RESISTANCE before going further down.
If 20k doesnt hold things will propably get VERY ugly, thats why im using close stoploss.
If 20k doesnt hold things will propably get VERY ugly, thats why im using close stoploss.
Comment:
Shorting the red resistance would propably be the easiest/safest trading setup i can find this year xD will post a new idea for this if we happen to test it!
Trade active
Trade closed: stop reached
Comment:
classic stop loss hunt for me, anyway still tink we could see a bigger correction here