Short Bitcoin, hit the uptrend line and overbought.
well, this short is not that easy than prior peak, prior run was over 90 RSI, near high of historic price, perfect setup and perfect resistance reading. i shorted it and then long at 780s and sold at 900 and then 1000.
this setup is a bit harder, because it breakout the historic price, and the historic high is now the resistance. 1150s line i am meaning.also RSI is not that high it need a push of buyers before a flush.
i wait for a 1250s bounce, with stop at 1300. the ideal setup would be a push of buyers till 1300. i started my short position right now at 1230s in small position (1/8 size) and start adding until it tops with a stop on 1300.
my target is a bounce until 1050 first, take profits, then 935 or 100 MA (that was the point of the before run and also the before breakout point.
this setup is a bit harder, because it breakout the historic price, and the historic high is now the resistance. 1150s line i am meaning.also RSI is not that high it need a push of buyers before a flush.
i wait for a 1250s bounce, with stop at 1300. the ideal setup would be a push of buyers till 1300. i started my short position right now at 1230s in small position (1/8 size) and start adding until it tops with a stop on 1300.
my target is a bounce until 1050 first, take profits, then 935 or 100 MA (that was the point of the before run and also the before breakout point.
Trade active:
added another 1/8 at 1239, remember we are building a short, until it doesn't tops and confirm the downtrend we are not full size. we are needing a nice push till 1250-1280 and then it will provably flush.
Trade active:
added 1/8 more at 1254, this is the pop that i was waiting, stop at 1305-1310, this will find the top soon or maybe test 1300-1310 like before runs. waiting for rejection to add full size (rest half of position)
Trade active:
adding 1/2 (full size) if this 1260 resistance breaks.