1) Run up to all time highs
2) Then BTC went into a trading range / consolidation
3) There was a soft spot in a trading range (Wyckoff would say "fall through the ice") that changed the trend down
4) But price refused to drop too much. Altcoins like ETH and XRP got crushed in this drop, but BTC held
5) Range expansion to the upside turns the trend up again. Could it be another whipsaw? Sure, but that's trading.
Entry: 24K - 24.6K
Stop: ~$23.7K, or $925 below entry
Target: wait until the trend changes down
2020 stats for this trade:
35 trades
46% win rate
3.3 profit factor
5 days average hold time
2) Then BTC went into a trading range / consolidation
3) There was a soft spot in a trading range (Wyckoff would say "fall through the ice") that changed the trend down
4) But price refused to drop too much. Altcoins like ETH and XRP got crushed in this drop, but BTC held
5) Range expansion to the upside turns the trend up again. Could it be another whipsaw? Sure, but that's trading.
Entry: 24K - 24.6K
Stop: ~$23.7K, or $925 below entry
Target: wait until the trend changes down
2020 stats for this trade:
35 trades
46% win rate
3.3 profit factor
5 days average hold time
Note
Already up 2% and climbing!I still expect low volatility until after the New Year. I suspect it'll go sideways or grind slightly upward.
Note
Up 13%! Now is probably time to start looking for an exit for discretionary traders. Price is getting sloppy around 27.5K.Personally, I'm in the trend until it ends.
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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.