BTC trading set up for long Long

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ Oct 13, 2018 3:00 AM

Bitcoin had a strong fall, but it can be seen as converging.
according to the convergence pattern There are two different buying strategies.

1strategy
Anticipating a double bottom pattern and receive a purchase from Converging bottom
entry price 6020~6050
stop loss 5980

2strategy
It is to get a purchase from the Pull Back position after passing through convergence.
entry price 6250~6270
stop loss 6200

I think we should be trading conservatively
Because the direction of the large convergence is determined Soon.

Beyond Technical Analysis

Comments

biffbifford

⋅ Oct 13, 2018 3:57 AM

When institutional investors decide that BitCoin has been low enough they can come in and drive the price to new heights. While everyone thinks that we are going to 50k they can turn around and sell it short and profit on the way up and on the way down. We are in dangerous territory because I believe they will specifically target Bitcoin and the rest of the alt-coins will follow suit. Definite trade strategy is absolutely necessary other than just buy and hope. That doesn't work anymore.