Bitcoin Channel Trade Set-Up
Short term trade here… and a dangerous one if you ask me. Employing tight stop losses here as you can see on the chart. Im gonna set my entry at 37300 and my stop loss at 36900. I may get stopped out, but this is a tight , controlled trade, with nice risk management. I’ll be quick to take profits if we see a bounce at the bottom of the channel… Short to mid term I see Bitcoin moving lower. This is just a quick swing trade set up, take profits early and set your stop losses. If you’re feeling a bit more risk appetite you can set your stop slightly lower than 36900,:to prevent being stopped out by a quick fake out wick… but I don’t advise. Stay safe out there boys and girls .
