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Bitcoinsell

BITCOIN USDTAs per my setup 1 hour short trade is placed near the resistance post the breakdown has been done with a large candle. So my R-R is not good here if I enter right away at ay candle as trading is 90% psychology with Risk management without FOMO. I have placed a short order near the resistance area if the price reaches there for retest would be a good thing & if not I do not want to chase any trade randomly and lose more than what I should, learning lessons through my previous experience and sharing it here as my notes. SL here is 200 points & reward is 1600 points so I dont mind taking series of losses because I only prefer high probability trades. No shame in taking SL and no Pride if targets are achieved, this is a game of probability let us play it this way.
BITSTAMP:BTCUSDShort
by rrithe9
Bitcoin Possible Crash Towards $1150 ...Currently BitCoin has started to show up Signs that it might crash back to $1150 very soon. Their are couple of patterns in charts that i look for which are probably best for reversal indication and they are forming up in higher time frame charts of bitcoin. but there is more.. 1- BitCoin Has recently broken above a long term curve at 1500, but there is very less possibility that it will sustain as volumes are not favoring it and lower curve is at around $1150. 2- There was a double top around 1150 and lower curve is also coinciding with it and it could act as a structure. 3- I think that bitcoin can crash towards $1150, which was the previous double top very soon and then we will have to analyse the situation again. 4- Gold & silver are indicating reversal from the down trend. 5- But if bitcoin tries to break the recent highs and tries to move above $1920-1950 then the scenario will be different and it could rally another $200-250 before crashing towards $1150, but crash is a very likely possibility.
BITSTAMP:BTCUSDShort
by BrokeButBold
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