Bitcoin has completed a euphoric run to 860(OKCoin futures) but has yet to complete a capitulation reversal from that high.
Given the lower highs in succession this may finally be the capitulation from the local high in June.
Targets are 557 and 502, important levels. Stop loss for the trade 674, local high. Time loss Sept 6 2016
Position size max 7% of portfolio. Conditions are not perfect but this is tradeable.
Given the lower highs in succession this may finally be the capitulation from the local high in June.
Targets are 557 and 502, important levels. Stop loss for the trade 674, local high. Time loss Sept 6 2016
Position size max 7% of portfolio. Conditions are not perfect but this is tradeable.
Trade closed: target reached:
Trade complete. Perfect profit
Comment:
This trade profited much faster than expected. Volume setup was supposed to push this down over 3 weeks. But Bitfinex hack accelerated the drop.
