Short
Bitcoin (BTC) MA Death/Golden Cross Analysis (Part 14) --> 42%
Welcome to the short leg of this trade! Below are the stats for this segment:
Segment 8
We didn't make much of a gain against USD on our long leg, it looks like Bitcoin has been solidly descending over the past couple of weeks. We are seeing a big gap between the MA and the price right now, so expect this short to last for the next couple of days at least!
Segment 8
- 05/19/2018 - BUY $8,200
- 05/22/2018 - SELL $8,300
- TBD - BUY TBD
- Beginning ($): $14,200
- Ending ($): $14,200
- Beginning (BTC): 1.71
- Ending (BTC): TBD
We didn't make much of a gain against USD on our long leg, it looks like Bitcoin has been solidly descending over the past couple of weeks. We are seeing a big gap between the MA and the price right now, so expect this short to last for the next couple of days at least!
Note
The price leveled out today after a decline yesterday. We just saw a small spike forcing the RSI to show overbought, so let's see what tomorrow brings us. Let's use $100 above the MA as a trigger here, since just touching the MA may not be the right signal to trade here. A confirmed breakout above the MA will show that we're seeing some sort of reversal. If the price intersects the MA with the RSI in the middle, I will be trading on that. Stay tuned tomorrow, it looks like we'll be seeing some action then!Note
Another look here, we want to see the price follow this upward-facing parabolic curve, or another similar to it. We'll look for the MA to level out.Note
We've dropped about 
1K since our short position, it looks like we're still a day (or more) out from a reversal in our position!Note
Turns out we haven't found the bottom yet! We've got $200-$300 in distance between the MA and the price. RSI is showing oversold, but I don't think we'll be seeing a reversal in the next day!Trade active
And we're long! We broke our MA at $7,450 last night and will be using $7,200 as a stop for the next few days. I'll be posting a long-tracking position shortly!Note
Track our long position here!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.