This is a scalping trade I am taking on BSV
I would not put in more than $100. If both the long and the short trade comes out successful, then the potential profit is $5000. In other words, I am trying to convert $100 into $5kish.
There are two legs of this trade. One leg basically involves price rising till the top of the flat Kumo cloud. Then it gets rejected...
Hash rates may be bottoming here.
Obviously Craig Wrights court case is something to speculate on, but the case has been pushed out until mid this year ~June unless it is once again pushed out.
If evidence doesn't show that Craig is irrefutably Satoshi (Which is most likely the case) obviously that is bearish news.
However slight this chance may be, that he is...
Using the VWAP
BSV is not much adjusted in the position to be adjusted.
preparing to rise again in support of the short-term trend line.
this is short-term strategies accordingly.
Taking a look at what price is doing, We are in a very complex WXY corrective wave. We wait for the E wave of the triangle to complete and give us an entry with a reversal candle before going long.
Please note that this is not a trading advice, just my own opinion.
when bsv start running , its running like a mad hourse ! 2 triangle in weekly broke with more than 450% run , breaking next one is close , what do you think ?
On the daily chart, sellers are also controlling the situation. The MACD is about to enter the bearish zone soon while will confirm the ongoing decline. The selling trading volume is also quite high and the closest stop may be the support of $150. Such a scenario is relevant until the end of summer 2020.
BSV was trading in this range since early April. We lost it but have now reclaimed it while forming a massive bull flag.
I would wait until a candle close above the flag before considering an entry. But I think it's going to be ON.
