BITCOIN SUPPORT LINE - $6600

As you can see we have had a support line follow our upward trend in the white. I'm expecting it to test that line right around 6600 and then bounce up. However, a break of that would bring us down a bit.
Overall, I am Bullish on Bitcoin. I believe fundamentally it is stronger then ever, and now its about finding the right entry point.
If you are margin trading, a bounce off of the support line could be your best opportunity with a stop loss just below the support.

Because of the tiny stop loss margin you can execute a larger position size-

Position Size= (($ Total Capital)*(Max Willing Amount to lose on trade %)) /( Stop loss %)

As always :
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This is for entertainment purposes only

評論:

Approached the 6600 support, lets see if we can get a bounce. Price is right at the Bollinger Bands EMA, so we will expect to see a contraction and then a large spike in volatility. If going long I would put stop losses at 6595.
Cheers