Bitcoin (BTCUSD): New ATH Is In Sight

Previously, we opened a short position @8170, which was supported by a bearish triangle breakout:

The price dropped 3.6% and reversed @7890 support. Depending on timing, some traders took a profit or closed out @breakeven. We now have to adjust to market conditions and get ready to go long BTC for new ATH.

Note

Position reversal/stop-loss criteria:

Note

Ok, we're good.
Watch for key levels on the chart.

Note

9000 is fine to take profit on this trade:

Trade closed manually

9300.
The market is raging, and I want to share with you a valuable trading tip. If you want to maximize profit during such strong trending moves, think about applying Parabolic SAR indicator as your trailing stop loss level. That is, you adjust your stop order manually every hour according to this indy. Works great.

Nickonomics

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Nickonomics