SnarkyPuppy

Jan Playbook. Short opportunity to 200 week MA.

Short
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Target $4.9k to $5.3k. Approx 20-30%.

The 200 week moving average on the daily chart has been support for a long time. Jan has been bearish historically.

Right now Jan 6 has been flirting with the top end of the multi-month range and this may cause some restless traders to jump long and the masses are usually on the wrong side of any trade.

The good news is that there should be good buys below $6K in Feb with a rally into the halvening of Q2!
Comment: Bitcoin has rallied out of the multi-month zone in a range expansive move. Is this enough for the bullish sentiment to provide liquidity for the Jan downslide? Jan 4 - Jan 7 have historically provided tops for the month of January. The top comes after upward moves from Jan 1st until reversal within a week.

Also because BTC did pump into 8.4k currently it expands the percentage gain of the downside target to 30%-40%.

The setup has played out so far let's see if we get a reversal
Comment: Trade is active. Stops c above the $8.4k high on Jan 7.
Comment: January's for btc since 2014

https://www.tradingview.com/chart/PktRVg...
Comment: Januay's for btc Since 2014 - 2017
Comment: Jauary's for BTC 2017- current. Will we get a repeat?

Trade closed: stop reached: Bullish preasure broke out of the 6month downtrend. Stoploss triggered.

Comments

are you having some problems with your trade? did you short?
Reply
What are the chances we drop to $4500 -5500 range ?
Reply
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