* At the time of publishing this post, I do not have any position with BTC 7.94% .
If you're a long term trader, or alike, I would advise against taking any position at this time.
I'd recommend taking position at:
(1) 6292, 0.618 Trend Based Fib, with tight stop loss at $6000
(2) Upon seeing significant reaction (strength of the movement) at the yellow trendline (8400 ish -11.11% ), This way you can put a reasonable stop loss right below Resistance #1
(3) Upon seeing significant reaction to the bottom red trend line .
(4) Of course, the safest bet would be taking position upon seeing 9200-9300 hold.
(5) Simply at $5000.
Please note that we are still in the bear market. You could easily slip out if you chase the price action.
Patience is virtue.
If you're a long term trader, or alike, I would advise against taking any position at this time.
I'd recommend taking position at:
(1) 6292, 0.618 Trend Based Fib, with tight stop loss at $6000
(2) Upon seeing significant reaction (strength of the movement) at the yellow trendline (8400 ish -11.11% ), This way you can put a reasonable stop loss right below Resistance #1
(3) Upon seeing significant reaction to the bottom red trend line .
(4) Of course, the safest bet would be taking position upon seeing 9200-9300 hold.
(5) Simply at $5000.
Please note that we are still in the bear market. You could easily slip out if you chase the price action.
Patience is virtue.
Trade active:
Short order placed. Bearish Engulfing pattern has been spotted. Divergences show that current price level has reached extremely overbought area. Stop Loss at 9400.
Btc Price currently 6% down from where I shorted.