Welcome to the 12th installment of my analysis series! We ended our long segment earlier today when our price crossed beneath the moving average. The MA was still ascending, so we may be seeing a buy-in above our sell, but remember that we're minimizing our risk using this strategy. We're tracking the following key statistics along our trade:
Segment 6
This is a short-term short, I'm long-term bullish on BTC! Stay tuned for updates, I'll be posting them below!
Segment 6
- 05/02/2018 - BUY $9,200
- 05/06/2018 - SELL $9,600
- TBD - BUY TBD
- Beginning ($): $13.950
- Ending ($): $14,500
- Beginning ( BTC): 1.51
- Ending ( BTC): TBD
This is a short-term short, I'm long-term bullish on BTC! Stay tuned for updates, I'll be posting them below!
Comment:
As of now, our price has fallen to our previous buy of $9,200! We captured the $400 gain that has now been lost. We also have a lot of distance between the MA and the current price, let's hope we stay within this descending channel!
Comment:
Watch closely! The RSI has leveled back to normal and the MA is getting close to a slope of 0. Look for a buy opportunity here shortly!
Comment:
We're still looking at a steep price descent with level RSI. Expect this trend to continue! Our sell at $9,600 looks pretty good right now!
Comment:
We're still in a nosedive here, stay short until the MA levels out!
Trade active:
And we're in at $8800. We're seeing RSI right in the middle and the MA leveling out. I'll wait until posting a follow up just in case we continue to fall.
Comment:
We're using $8,600 as a stop, check out the breakout we just saw.
Comment:
Still pretty volatile here, setting $8,500 stop because the MA looks like it's leveling out.
Trade active:
We've fallen a bit in price and took a $300 hit, but are in at $8,300! I'll be posting an update shortly!
Comment:
Long position posted here!
