BitcoinShort
Bitcoin in a descending triangle
Updated
Hello Friends! BitBotly Here with a thought about the current state of bitcoin.
Skippy, our algorithmic trader, pointed out that there is a descending triangle building currently.
The descending triangle shows all the symptoms:
As we all know, a descending triangle is a sign of bearish continuation, which means that we're waiting for a breakdown of the support level which will lead to greater downside.
See how skippy made us 15,000$ this month here
Skippy, our algorithmic trader, pointed out that there is a descending triangle building currently.
The descending triangle shows all the symptoms:
- 1. Lower highs connected by a trend-line
- 2. Similar lows, or lower lows
As we all know, a descending triangle is a sign of bearish continuation, which means that we're waiting for a breakdown of the support level which will lead to greater downside.
See how skippy made us 15,000$ this month here
Trade active
Short BitcoinEntry: 6960.3
Stop loss: 7003.6
Position size: 25% of (total)capital
Note
Stop loss moved to 6977.0 :)Note
Stop loss moved to 6964 :)Soooo close to break-even :)
Note
Stop loss moved to 6960.0Trade is at least breakeven :)
Note
Stop loss moved to 6942.0 :)Guaranteed profit! :)
Note
Stop loss moved to 6915 :)Trade closed: target reached
Trade closed with +2.18% profit :)tiny.cc/TradingHistory
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.