Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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SHORT BITCOIN
Short from 6800-7000$
Target: 6450$
Comment
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Comment
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On the 15 minute Chart you can see how the 200 EMA is working as Resistance and the Price bounced of three times. We can see a nice rising Wedge also. Everything working out as planned so far.
Trade closed manually
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Not 6400$ but 6480$ reached.
50% of my Order closed at 6500 and 50% stopped out on my Entry.
So i am looking at 6900/6500 thats 6.15% Profit x25 leverage = 153% Profit ROE
But only 50% of my Sell Order got filled so the "Real" ROE = 76,5% Profit (50% of 153%)
Expected to do down more but i see bullish divergence (RSI) on the Daily chart, so for now i will go LONG.
To be clear: I am LONG on Short-term. Im still Bearish on the bigger Picture.
@BitcoinSector Target still the same? Complete the head ans shoulder?
BitcoinSector
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@evanp90, Target is still the same. I would recommend to move Stop Loss lower and lower step by step because we can potentially go even lower 5800-5900$ is possible. But 6400$ is our SAFE Target. We will update another Short Play soon.
Do you referring to the big H&S starting on March 09 or the smaller one beginning on March 30?
evanp90
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@BitcoinSector, Thanks for your analysis. This is the formation (dunno if its considered a head and shoulders.):
@evanp90, So the one beginning on March 30. Im struggling to really consider this as Head and Sholders but i can see what you mean of course. If it is one, it would also play into our cards because it should go lower to finish this Formation. Thank you for your Support. Keep posted <3