My last published idea ended up working out as planned. Bitcoin was shy of target by about 130 bucks, but no matter that's you buy/sell a little conservative of the target. We can see that on the upside, it bounced off the top of the downtrend channel again. Let's see if we keep support at 8300-8700 and form a double bottom, or if we go lower.
I'm putting a VERY small part of my trading stack in around 8550 to see if the sideways continues and if I can squeeze a little out of the consolidation in the channel. If not, we'll be buying on the next support levels and monitoring the overall trend. I am very doubtful of a dip below 6000, so if it does dip lower I'll just be putting my higher buys in for long term holds and put larger amounts in on the way down. Most trader say to wait for confirmation before opening a position. I'm still figuring out what those confirmations look like, but my trades have been getting better each week as I learn more.
Please note, I am an amateur and am speculating - this isn't financial advice - Do not trade my trades unless you agree with me in your gut.
I'm putting a VERY small part of my trading stack in around 8550 to see if the sideways continues and if I can squeeze a little out of the consolidation in the channel. If not, we'll be buying on the next support levels and monitoring the overall trend. I am very doubtful of a dip below 6000, so if it does dip lower I'll just be putting my higher buys in for long term holds and put larger amounts in on the way down. Most trader say to wait for confirmation before opening a position. I'm still figuring out what those confirmations look like, but my trades have been getting better each week as I learn more.
Please note, I am an amateur and am speculating - this isn't financial advice - Do not trade my trades unless you agree with me in your gut.