BTC is ranging within a symmetrical triangle on H1, and reluctance (highlighted in red) to close above the 50 hour MA (purple line) is leading me to lean bearish for the time being. Waiting for funds to arrive in exchange, will update with actual entry, stop, and target prices when I open a position.
Note
Opened small short position at $4,263. Stop and target remain as shown on chart.Trade active
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If we get a 2nd hourly close below resistance I'll move my stop loss closer to entry.Note
2nd hourly closed below resistance. Moved stop to $4,300.Trade closed manually
Closed trade early for 5% realised profit. Taking a break.Note
Took a couple of further scalp shorts for 3% profit each. BTC looks like it still has some downside left but I'm likely to stay away from further shorts for now.
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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.