Here is a low risk/high reward trade on #Bitcoin. Bitcoin is once again finding support at the bottom of the ascending channel (as well as the 21 weekly EMA ). The weekly stoch RSI is oversold as well. With stimulus aid back on the table next week, we could see Bitcoin rally back to around 12K, especially after forming a classic accumulation pattern. This is because both the stock market will likely see a pump, as well as precious metals/ Bitcoin due to inflation fears spurred by the stimulus.
I'm entering a 10X leveraged trade here
Entry: 10.8K Take profit: 12K and above for 100% profits SL: $9950
If the ascending channel is broken to the downside and/or the SL hits, then all bets are off as the ascending channel bearish downside break will be confirmed.
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BTC/USD so far respecting the 21 weekly EMA strongly. Nice 60% gains so far on this leveraged long. The weekly stochastic RSI shows the price can still propel itself to near 12K but will be setting a trailing stop on this to protect already made profits :)
Komentarz
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The daily BTC chart shows a bullish crossover between the 21 EMA and the 50 SMA. The .786 Fib is also around 11.8K.
Transakcja zamknięta: osiągnięto wyznaczony cel
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210% gain on this beautiful long so far. You can set a trailing stop here, close for profit, or wait for the weekly Stoch RSI to turn bearish (although be careful with this one as the Stoch RSI is still a lagging indicator technically).
I waited for a dip to get in, went short at 10723 on the spike down. Exited the trade at 10710 for a small loss of 3%. My buddy was not as fortunate as he entered at 10883 and is currently down over 20%. I may re-enter if I can catch the spike before the stimulus news happens.
Xiu-YoZ
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You rekt?
TheTravel1ngTrader
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@euphoricSnail85980, rekt from what clown? I'm up 60% on this beautiful long while you tried to retrospectively bash a trade early to make your little self feel good.