[Apr 12, 2019] Position - BTC/USD

eight.zero.three

Published: 12 Apr 2019 › Updated: 12 Apr 2019 [Apr 12, 2019] Position - BTC/USD

[Apr 12, 2019] Position - BTC/USD

This post is to highlight a BTC/USD trade in progress. Price action obtained via GoMarkets.

Potential Entry

Item	Description
Position	Short @ 4063, 5153 (GoMarkets)
Status	Filled
Timeline	T2
Confidence of the trade	60%
Initial Target	45xx, 40xx (rising 16MA

T1 - 0 - 2 Weeks | T2 - 2 weeks - 6 months | T3 - 6 months to 3 years

Technical Analysis

Price Obtained by GoMarkets

Since the surprise of 4200 resistance breaking in such a spectacular fashion, T2 is bull's game, for now. It definitely surprised me in which the manner it was broken, but this is the first proper retracement of the 6000 sell off so it shouldn't be shocking. 1st position was punished severely but a second position near 220MA / 5000 level would help average cost to 45xx. 220MA seems to hold for now, but question is - when, or will the bear fight back?

Disclaimer

While we believe in collaboration and working towards a common goal as good thing, it has in the past affected the way we trade so to keep this as consistent and drama free, we will not be replying to comments most of the time to keep this approach as streamlined as possible. You'll certainly see us making comments and upvoting other amazing posts though!

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[Apr 12, 2019] Position - BTC/USD