I like this trade. Too many consecutive red days. That news that Blackrock was entering crypto was too significant for the price to fall so steadily without some kind of small rebound at least. This uptick is clearly a new trend, so I start the fib line on July 16th, and bitcoin has followed fibonacci accurately in the past. If the trend fully retraces, like in most cases, it should get a small uptick. This assumption comes from experience. Typically, when a stock retraces the full move, you get a small uptick as people realize they can buy at the price they wish they could have had before the breakout.
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Adding $6731
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Down $200
Will readd $6400
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Didn't readd, staying away from this, best to stay out of it and wait for the drop to level out. Currently down 7%
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judge me on my losers, not my winners. Perfect stop!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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this was just a stupid trade man....wow. Whatev, only risked 200...lol...still though smh at myself
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retraced where i said it would though, up 4% right now.
Are you planning on selling when it's less of a loss or you holding for short/mid term long?
alipipefitter
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@dcardona1, sold when I was down 200 with intention of readding at full retracement, changed mind and didn't readd due to severity of selling. Out --this was a just a small gamble, risking little due to the conditions. You win, you lose, just make the losses small and the wins big. Check out all my posts and look very closely at the dates. I have an 80% win rate. At the beginning of the year it was ridiculous. The only reason nobody follows me is because my charts aren't prettied up, and decorated with insignificant conjecture. And that is what it is, conjecture . I focus on news, simple fibonacci levels, relative volume , momentum, bollinger bands and news. it's just that simple. The tabs on the charts are key events
alipipefitter
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@dcardona1, oh yes and of course support and resistance levels