Bitcoin Drops As Expected, But How Much Lower? (Trade inside)

25 Apr 2019

Bitcoin (BTCUSD) just had the first strong drop in quite a while, but this is no surprise, we were expecting this... Here you can see our previous analysis: https://www.tradingview.com/chart/XBTUSD/t4jtKQSS-Bitcoin-XBTUSD-Rising-Wedge-Potential-Fall-Altcoins/

Now, the question is this, how much lower can Bitcoin go?

We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.

Here is our latest Bitcoin (XBTUSD) trade:

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Trade: SHORT XBTUSD

Leverage: 10X

Buy-in: $5400 - $5500

Time Frame: 1D

Targets:

(1) $4970
(2) $4710
(3) $4500

Stop Loss: Close 1D above $5650.

Liq. price: $6029
(Buy-in calculated at $5460)

Profit Potential: 213% ROE

Capital Allocation: <10%.
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Feel free to hit like to show your support.

Where do you think Bitcoin is headed next?

Leave your comments in the comments section below, and remember to hit like.

Namaste.

25 Apr 2019

Nota

Note: The buy-in price for the trade above is already gone, the targets are valid on the way down.

26 Apr 2019

Nota

Binance Coin (BNBBTC)

Tron (TRXM19) for 140% ROE with 10X (BitMEX)

26 Apr 2019

Nota

openANX (OAXBTC) prepares for Round 4, over 250% profits potential...

26 Apr 2019

Nota

Looks like we have some volatility coming back into Bitcoin. This is really good for trading. This is good for us and the market.

26 Apr 2019

Nota

S&P 500 (SPX) Latest Update

26 Apr 2019

Nota

Ethereum (ETHUSD) Descending Channel

26 Apr 2019

Nota

The next red candle for Bitcoin (BTCUSD) will be a lot bigger than the last one, but it will take a few days to show up.

26 Apr 2019

Nota

We can see a rejection by EMA10 on the bounce, making BTCUSD a little bit more bearish. Our targets are valid and waiting to be hit, great profits potential here: