CLOSE YOUR LONG POSITIONS
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
[b]Follow me on instagram: u_wannatrade
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- Trading idea for the upcoming – short (sell)
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Bitcoin /USD — price at analysis $32130
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Entry: $36,300
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Stop loss – Take profits (conservative – TO – I’m gonna go broke if i don’t exit now):
– Stop loss: $37,500 – $44,500,
-Take profits: $32,500 – $27500 >
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Reasoning:
-bear market conditions
– bitcoin price action is noticeably reacting to current economic and market conditions
– technical analysis identifies a downtrend
– price trading below short term trend line (confirms rally “downtrend pullback”)
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TRADE IDEA BONUS: Indicators I used to assist with technical analysis and will use to confirm trade targets
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SMA 9, 21, 60 , EMA 3, STOCH RSI , VORTEX indicatorsbitstamp:btcusd

