Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Seen a lot of worry in some crypto groups I'm in about BTC's correction today. Nothing seems abnormal to me just seems like a good old retest of the neckline of an inverse head and shoulders. My outlook remains the same that I'm bullish until the 8700-8800 zone that is my key reversal zone or my kill zone. That's where I will be taking my profits on my long from 7900. If BTC were to meet resistance there I would be bearish if it were to break through that would be a bullish indicator.
Comment
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Head and shoulders REKT. 2 Horizontals REKT. Still in my long though. Could retest the 7800-7900 zone here which is another one of my big zones. If we were to break that I'd be super bearish. My stop is somewhere around 7700.
Trade closed: stop reached
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Stopped at 7700 breakeven due to funding. Should of locked in profits. Will do better next time ;-)
I'm with you piglet, might take profits a little earlier though, just in case... all the longers are looking at the 8700-8800, so would make sense to take some at 8660+.
All the best with your TV future. First commentor :D
CorpusSwinicus
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@CryptoYones, Yep will probably look to exit a small bit away from my target as well just to be sure, Thanks for the comment my friend.
CryptoYones
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@TheCryptoPiglet, Looks like we might get there, nice little bounce off your lower red line. Let's hope it holds.
CorpusSwinicus
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@CryptoYones, Red zone is the big zone super bearish if we break that one.
CryptoYones
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@TheCryptoPiglet, Well done on a level headed first published trade. I also did very similar :)
All the best with your TV future. First commentor :D