Bitcoin about to breakout

2 juil. 2018

Bitcoin is currently consolidating on the 1 hour chart underneath a falling trend line. Normally, I'm not comfortable taking a short position as price can easily break above. However, with Bitcoin's weakness and failure to push into higher highs, shorts are favored.

We can see a few significant doji's are also starting to form. I love entering trades at the half-way point on the wick and placing stops above/below thh wick.

If we project a downside target from the consolidation zone, the profit target coincides with a 50% Fibonacci retracement at $6,170 level.

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

2 juil. 2018

Transaction en cours

I've taken an aggressive short position at $6,356 with stops above$6,373. This is a small position. High risk but comes with high reward. Safer entry is a break of the lower trend line

2 juil. 2018

Trade fermée: ordre d’arrêt atteint

Massive volume to the upside!