STEEM/BTC Bullish Butterfly 60 Min

9 Ogo 2016

After price retested the PRZ and support held I have re entered my long position.
I am looking for a Type 2 reaction here.
Looks like a nice triple bottom as formed too.

Entry: 0.00332
Stop Loss: 0.00305
Target 1: 0.0049
Target 2: 0.0059

9 Ogo 2016

Dagangan aktif

9 Ogo 2016

Nota

Here is a look at the 240 min chart.

10 Ogo 2016

Dagangan aktif

This trade is still currently active. Although it appears as if my trade has been stopped out according to my chart, I have not been.

In cryptocurrency trading , especially thin, illiquid markets like the STEEM/BTC pair I scale in and out of positions quite frequently and do not use exact stop losses. I would be insane to post my exact stop for everyone to see in a market this thin.

However, since I scale in and out of my crypto trades, I have been stopped out for about 15% of my position but I still have 85% left. Lets see if this level can hold and if the Steem bulls can push price higher.

10 Ogo 2016

Dagangan aktif

I am currently looking at these two possible scenarios. A new harmonic pattern might have emerged! This gives me another possible bullish area (PRZ) to watch out for, now in the 0.029-0.0285 range. This area might be the last chance for the steem bulls before bear country takes over.

11 Ogo 2016

Dagangan ditutup: hentian tercapai

This trade has been stopped out at 0.003 BTC.

Please look below for further analysis on this pair.