Long

STEEM/BTC Bullish Butterfly 60 Min

Updated

After price retested the PRZ and support held I have re entered my long position.
I am looking for a Type 2 reaction here.
Looks like a nice triple bottom as formed too.

Entry: 0.00332
Stop Loss: 0.00305
Target 1: 0.0049
Target 2: 0.0059

Trade active

Note

Here is a look at the 240 min chart.

Trade active

This trade is still currently active. Although it appears as if my trade has been stopped out according to my chart, I have not been.

In cryptocurrency trading , especially thin, illiquid markets like the STEEM/BTC pair I scale in and out of positions quite frequently and do not use exact stop losses. I would be insane to post my exact stop for everyone to see in a market this thin.

However, since I scale in and out of my crypto trades, I have been stopped out for about 15% of my position but I still have 85% left. Lets see if this level can hold and if the Steem bulls can push price higher.

Trade active

I am currently looking at these two possible scenarios. A new harmonic pattern might have emerged! This gives me another possible bullish area (PRZ) to watch out for, now in the 0.029-0.0285 range. This area might be the last chance for the steem bulls before bear country takes over.

Trade closed: stop reached

This trade has been stopped out at 0.003 BTC.

Please look below for further analysis on this pair.

domavila

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