16R Short BTC

Jan 24

The miners are really struggling to move which isn’t usually a sign that BTC is about to make news highs.

There are also patterns of weakness developing.

30% chance.

Jan 25

Trade closed manually

Closing manually for 1.4R profit as it is lacking downside strength. I also noticed on the friday close that the miners popped up significantly which is uncharacteristic if a decline is to occur next week.

Usually when correct on a trade the market should move nicely in your direction which did occur initially but it's moved too slowly over night in my opinion.

An alternative is to move the stop loss to breakeven, or take half the position off and move the stop loss to breakeven.

I would think if the market get's back up to the entry point that this would be extremely uncharacteristic for expecting a sharp continuation lower - therefore making it a good place to move your stop loss to.