alanmasters
Short

Bitcoin Drops As Expected, But How Much Lower? (Trade inside)

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin ( BTCUSD ) just had the first strong drop in quite a while, but this is no surprise, we were expecting this... Here you can see our previous analysis: https://www.tradingview.com/chart/XBTUSD...

Now, the question is this, how much lower can Bitcoin go?

We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.

Here is our latest Bitcoin ( XBTUSD ) trade:

--------------
Trade: SHORT XBTUSD

Leverage: 10X

Buy-in: $5400 - $5500

Time Frame: 1D

Targets:

(1) $4970
(2) $4710
(3) $4500

Stop Loss: Close 1D above $5650.

Liq. price: $6029
(Buy-in calculated at $5460)

Profit Potential: 213% ROE

Capital Allocation: <10%.
--------------

Feel free to hit like to show your support.

Where do you think Bitcoin is headed next?

Leave your comments in the comments section below, and remember to hit like.

Namaste.

Comment: Note: The buy-in price for the trade above is already gone, the targets are valid on the way down.
Comment: Binance Coin (BNBBTC)


Tron (TRXM19) for 140% ROE with 10X (BitMEX)
Comment: openANX (OAXBTC) prepares for Round 4, over 250% profits potential...
Comment: Looks like we have some volatility coming back into Bitcoin. This is really good for trading. This is good for us and the market.
Comment: S&P 500 (SPX) Latest Update

Comment: Ethereum (ETHUSD) Descending Channel
Comment: The next red candle for Bitcoin (BTCUSD) will be a lot bigger than the last one, but it will take a few days to show up.
Comment: We can see a rejection by EMA10 on the bounce, making BTCUSD a little bit more bearish. Our targets are valid and waiting to be hit, great profits potential here:

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Namaste
+1 Reply
alanmasters BlockchainYahoo
@BlockchainYahoo, Namaste. :)
Reply


This has the potential to blow thru both 20MA & 50MA on the 4H.
Will not be surprised if we get back in the game for a couple of days because of it..
Mid-term is still down...
Reply
@mbc47, Yes, I've been looking at a potential bounce to the upside but volume is still really low.
Reply
I wait for a alert set my targets and chill Good luck with your TA!
+1 Reply
alanmasters BossIndicators
@BossIndicators, Thanks a lot for the chart.
Reply
@alanmasters, NP Here is another one! With trends, supports, and resistances GL Brother!
Reply
good time to go against the herd and fomo

Reply
alanmasters jeremyluce
@jeremyluce, You also have the drop on your chart, the drop is the herd right now, it wasn't before when we shared it.

Namaste.
Reply
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