We're currently seeing a bit of a rally following the wick down to 5860 yesterday, however I feel this will be short lived seeing as the EMA20 has now crossed below the MA50 on the 1D. Historically
BTCUSD
has risen up for a touch of the 1D EMA20 following the EMA20 & MA50 crossover before a sharp move down, which I expect to occur within the next few days. 1D EMA20 is currently sitting at 6766 at the time of writing, which I expect to come down to around 6600 - 6650 by the time
BTCUSD
moves up to meet it. It is at this point I will likely enter a short position in anticipation of a move down to around 4700 by the end of August / beginning of September.
BTCUSD
has risen up for a touch of the 1D EMA20 following the EMA20 & MA50 crossover before a sharp move down, which I expect to occur within the next few days. 1D EMA20 is currently sitting at 6766 at the time of writing, which I expect to come down to around 6600 - 6650 by the time
BTCUSD
moves up to meet it. It is at this point I will likely enter a short position in anticipation of a move down to around 4700 by the end of August / beginning of September.
評論:
I realise I could have entered higher, however I chose to sit it out during the BitMEX shenanigans on 22/08. That PA was absurd.
評論:
I should have been stopped out of this trade at 6665, however I made this mistake of using the stop limit function on Bitmex and fell victim to horrendous slippage (note to self - use stop market!). Thankfully I entered a hedge long on XBTU18 at 6520 which has rescued my PNL a little. Both positions still open at present.
Mid term trend 0.382 fib currently acting as resistance, as is the 4H EMA200 (see chart).
I'll be monitoring the chart closely today. If I see a drop followed by a convincing bounce from 6600 - 6650 then I will close my short and add to my long.
If I see a convincing break above the 0.382 fib then I will close my short and let my hedge long ride, hopefully to breakeven at 6890.
Mid term trend 0.382 fib currently acting as resistance, as is the 4H EMA200 (see chart).
I'll be monitoring the chart closely today. If I see a drop followed by a convincing bounce from 6600 - 6650 then I will close my short and add to my long.
If I see a convincing break above the 0.382 fib then I will close my short and let my hedge long ride, hopefully to breakeven at 6890.
S/L - 6665