100 trades crypto series Starting date: 9/August/2021 Day 4 Starting capital: $500 Capital at present: $583 Trade nr. 14 (all trading ideas in the series with commentary and outcome can be found on my profile)
As bitcoin sentiment turned a little bit to the bearish side all my today's trades were SHORT.
Also I was luck enough to catch the BTC market cap dominance rising in a short term which was also a good indicator that alts will bleed.
As I am looking now, it is probably the weakest trade I made, because of the many bullish points.
BEARISH VIEW:
-Mega strong selloff made me believe that we are going down. -bear flag
BULLISH VIEW:
-Strong bull wicks at the bottom of the range -Strong support zone (blue line) haven't been breached (only have by wicks) -Might convert to a trading range instead of another leg down.
From the retrospect, the stop was incorrect, but i decided to extend my stop/loss manually and see what will happen (decided to risk some more money) Better entry probably would be at the 50% retracement rejection.
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