BTC long setup 9450 to 9.9k-10k

2019年8月15日

Got hurt on the recent run up to 12k when I was shorting the high 10k and low 11k range. Didn't see that one coming. Can't win every trade I guess

Took a small short yesterday around 11k December contracts, taking profit here at 9.5k and turning it into a long because...

1D 100ma (12hr 200ma)
Horizontal support at the top of the consolidation zone shown by my white line.
4hr MACZ starting to give a buy sign.
Extremely oversold

9.2k before 9.9k would surprise me.

Thoughts:
We really cut through that 1W 12MA earlier today, didn't do anything at all to hold.
4hr 200ma did nothing either
We 've been rejecting from the 5minute B-band for hours now, it's a pretty amazing dump to be honest. Relentless selling. That's why I waited for here to go long, I had a feeling price would get to the last possible point to start turning around, seems to be 9480 on most exchanges.

If price doesn't hold here I would assume 9.1 or 8.9k is the place to buy.