ridethepig
Long

BTC - Marching Troops To The Border...

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Large hands coming underneath and pushing price straight back out of the lows as widely expected because of how cheap BTC is. This is a gift in this business, you can see BTC finding strong support at the lows in 7000 handle. Those following will know I have been (and continue) to aggressively buy the 7000/7100 lows, as soon as we crack 7500 expect accelerated profit taking from shorts to accelerate through the level. I will also be happy to engage further on a momentum break.


The process of "Marching Troops To The Border" makes sense with the market clearly in holiday mode. I will be covering in detail the technicals behind this strategy in the next @ridethepig lessons. So far it is paying out fairly good, a lot of these are one-clickers but I do not worry about this as drawdowns are always very minimal. You see how the entries are always in sync with the lows, they are satisfying my logical desire... wash, rinse and repeat.


Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside.

Good luck all those buying dips in BTC .
Jan 07
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No, should be 5000
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