Welcome to Part 8 of my BTC tracking analysis. I'm using a simple wave analysis to capture gains while BTC continues to decline in price. At the beginning of this, I outlined that this is my only investment in the crypto market, as altcoins don't tend to do well when new money is not flowing into the market. Some have done well, but this is much riskier than the method that I'm using here. At the end of our last leg, we were up 55% on BTC and we're not up 7% against USD.
Segment 4
04/01/2018 - BUY $7,150
04/04/2018 - SELL $6,900
TBD - BUY TBD
Beginning ($): $11,100
Ending ($): $10,700
Beginning (BTC): 1.55
Ending (BTC): TBD
The MA is flat now, so this may also be a short segment depending on where the price moves here! Follow along and trade!
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We crossed the MA for our long position a couple of days ago, I'm closing out this segment and opening up the long position.