Over the last few days Bitcoin was at its new High of about $4700 and I saw this a perfect short. I shorted down to about $4200 and closed my position then I re entered at the pulled back at $4300 and place another short to $3256.16. I didn't expect for Bitcoin to fall like it did but I took advantage of it. I am currently in a long position and waiting to see if it goes all the way back to another major resistance.
Using these Fibs it was very easy to enter and exit, it followed them perfectly. Where you see the lower box is where I went long at.
So if you are also trading Bitcoin where do you think it will be going? how do you like these price movements?
Thank you for reading and have a wonderful day!
Wow, good for you, you nailed it. How long have you been trading btc? How much do you risk per trade?
What playform do you use?
Hi! I been trading since 2007 but for bitcoin since 2014, I got into mining and buy holds and shorts. I risk only 1% of my account per trade on all markets ~ stocks, etfs, futures ect. I use meta trader 4.
What about yourself?
I stopped trading years ago with work family and kids it was far too stressful I found myself to be far more profitable over longer time frames, which freed me up to spend more time w the kiddos!
That awesome to hear your success! I personally am new in Trading. I have been following crypto for a while but very seriously this year and find everything fascinating with the companies, altcoins, and maybe new crypto leaders.
I personally think that it's going to bounce around $3800 unless more exchanges start closing trading or more bad China news, because a lot of the recent buy into Bitcoin has been from Asia. I will say there is some serious FOD which I think is warranted with all the recent price jumps.
I noticed that EOS, which I think can be a top 5 crypto has shown some strength at $0.6 even when everything else is dropping. I imagine some wealthy people are putting in big buy orders for low prices, which is smart the concept can give Ethereum a real run for their market cap
nice, what else do you like to trade? i think bitcoin or other cryptos will go lower if other countries do the same. but we will see, what are you thoughts on that?