Welcome to the short leg of this trade! Below are the stats for this segment:
Segment 8
We didn't make much of a gain against USD on our long leg, it looks like Bitcoin has been solidly descending over the past couple of weeks. We are seeing a big gap between the MA and the price right now, so expect this short to last for the next couple of days at least!
Segment 8
- 05/19/2018 - BUY $8,200
- 05/22/2018 - SELL $8,300
- TBD - BUY TBD
- Beginning ($): $14,200
- Ending ($): $14,200
- Beginning (BTC): 1.71
- Ending (BTC): TBD
We didn't make much of a gain against USD on our long leg, it looks like Bitcoin has been solidly descending over the past couple of weeks. We are seeing a big gap between the MA and the price right now, so expect this short to last for the next couple of days at least!
Comment:
The price leveled out today after a decline yesterday. We just saw a small spike forcing the RSI to show overbought, so let's see what tomorrow brings us. Let's use $100 above the MA as a trigger here, since just touching the MA may not be the right signal to trade here. A confirmed breakout above the MA will show that we're seeing some sort of reversal. If the price intersects the MA with the RSI in the middle, I will be trading on that. Stay tuned tomorrow, it looks like we'll be seeing some action then!
Comment:
Another look here, we want to see the price follow this upward-facing parabolic curve, or another similar to it. We'll look for the MA to level out.
Comment:
We've dropped about $1k since our short position, it looks like we're still a day (or more) out from a reversal in our position!
Comment:
Turns out we haven't found the bottom yet! We've got $200-$300 in distance between the MA and the price. RSI is showing oversold, but I don't think we'll be seeing a reversal in the next day!
Trade active:
And we're long! We broke our MA at $7,450 last night and will be using $7,200 as a stop for the next few days. I'll be posting a long-tracking position shortly!
Comment:
Track our long position here!
