BTC 1-3 day trade

26 juil. 2018

BTC is showing exhaustion signals on multiple time frames. I have closed all longs and opened a short near this level. Stops are tight on this one.

Targeting the 12hr 20MA and previous S/R from the symmetrical triangle formed during most of 2018 - currently both are around 7600-7800

Open interest has gone flat and started to decline on the price rise. MACD showing a coming change in momentum. sRSI crossed below 80 after being above with RSI above 80 and crossing back below too. 1hr about to give us a bearish MA cross with price below.

Shorts up to 8300. Stops at a comfortable distance.

This is a short term position and I expect BTC to remain bullish on the daily for now.

12hr:

27 juil. 2018

Note

This move hit my trailing stop and closed my position in profit. Not as much as I was looking for, but I am waiting to see what happens. We are approaching a downtrend resistance, but the momentum indicators are all showing potential for this pump to continue over the next few hours. Flat for now.