Bitcoin reaching major trend resistance....going short

23 Jul 2018

With the current falling wedge patterns it's tempting to go long BTC now but I think it's much more likely IF the ETF gets approved. Additional regulators should also be clarifying their position on cryptocurrency in the coming weeks/months, so some negative overhang should come off the market. I'm going to respect this trend resistance (tight stops on the top side though) and go short with a view to sell closer to $5,800.

24 Jul 2018

Dagangan ditutup: hentian tercapai

Ugh, BTC decides to rally and most of my position has been stopped out. #REKT. Maintaining a hedge until we get confirmation above $8,150-8,200.

4 Sep 2018

Nota

This actually aged surprisingly well.....very annoying to close a trade and then see the market go your way. Oh well. Lesson learned.