However, BTC decided it needed to taunt 2 fools after liquidating their margin accounts.
What could be worse?… the spike to liquidate your short position or the sudden drop afterwards
that seemingly acts as a smack in face and a size 10K boot to your ass sending you tumbling!!
Well, this is what apparently happened to 2 traders. Moral of the story…
Don’t bite off more than you can chew, I don’t care how big you THINK you are!
Now on to the chart…
So when Bitcoin decides the market will go down. The market Listens!!
We now have a nice reversal. I bought more here.
I zoomed into the 1hr timeframe to show the bouncing off the 68.1% fib on the retrace.
This is an already active trade, with BOOKED profits.
Here's a quiz for you... there is a key hour of reversal pattern that xdn adheres to. Do you know what hour it is?
Did I say wonderful?
I BOUGHT MORE!!
Bought @ .00000155 and sold them at @ .00000165
Trade still active.
I put the sell order for that trade slightly above the 78.6 fib line as it's a natural pivot point and always an area of consolidation and decision making. It's a good area to take some profits in a trade.
it's in an uptrend channel on the 4Hr with healthy peaks and troughs. This is a bounce off the 78.6.
Yeah, I guess it can go down hard (whatever hard is) or even to zero, but I like my chances of it not going there,
and in fact bought at 9040 on Bittrex for a trade...