Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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We are now at a crucial level for BTC because we're at two major resistances close together: - horizontal at $6800 and - diagonal 9 month resistance at around $6950 My guess is that we don't break it and we go down towards $6000 back again. Unfortunately. Or even lower. Generally I'm still long BTC with my holdings but this will be a hedge short into a recent support at $6600. E @ 6730 SL @ 6800 T @ 6600 RRR: 1.86
Trade active
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It's been a while. BTC has been so boring until today. Woke up to this swing low so decided to take a new trade: E @ 6150 SL @ 5950 T @ 6550 RRR: 1.75 Also waiting for the end of the triangle that's been forming for the past 9 months or so... Fingers crossed.
Trade closed: target reached
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Another profitable trade. Bart Simpson at work again :)
Trade active
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All RSI indicators are oversold, especially on 1D that's not been below 15 in couple of years so I think that's far down low for now. Let's see how this goes... E: 5089 SL: 4970 T1: 5600 T2: 5900
Trade active
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Another couple of trades gone wrong so moved down to the next support level around $3550. New long open: O: 3600 T: 4100 SL: 3480 since I think 3500 is a mental level for many so $20 below... If 3500 level is broken, we'll go down to 3k-ish. If we break 3500 I'll try to short it towards 3100 probably if I'm near the computer. Not really bearish or bullish right now. Already gave my bearish scenario but for me to get bullish again we need a new HH and HL back to around 4k.
Trade active
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Lol that was fast... Previous trade got nuked so I believe we will go to the 3k-ish level that's why I'm shorting. Not done many shorting before so there's a high chance I might be wrong here but I have to learn at some point :) Anyways: O: 3500 SL: 3600 T: 3000
Another couple of trades gone wrong so moved down to the next support level around $3550.
New long open:
O: 3600
T: 4100
SL: 3480 since I think 3500 is a mental level for many so $20 below... If 3500 level is broken, we'll go down to 3k-ish.
If we break 3500 I'll try to short it towards 3100 probably if I'm near the computer.
Not really bearish or bullish right now. Already gave my bearish scenario but for me to get bullish again we need a new HH and HL back to around 4k.
travel-nomad
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this above was supposed to be an update, not a comment, so ignore this :)
New long open:
O: 3600
T: 4100
SL: 3480 since I think 3500 is a mental level for many so $20 below... If 3500 level is broken, we'll go down to 3k-ish.
If we break 3500 I'll try to short it towards 3100 probably if I'm near the computer.
Not really bearish or bullish right now. Already gave my bearish scenario but for me to get bullish again we need a new HH and HL back to around 4k.