A quick daily outlet of my thoughts including analsis of Bitcoin movements and brief insight into my daily strategy.
Any trades I open or close will be listed here. No values will be listed (think beer money, no Lambos or yachts on order… Yet!) I will include my reasoning for the trades and a description of my risk management will be explained.
Not financial advice.
My previous daily post using support and resistance can still be found here.
Thursday 18th June 2020
Bitcoin has been moving sideways now for the past 7 days. It has been bouncing around $9,430.
My thoughts for today are that this now looks extremely ‘toppy’ and I’m guessing a move to the downside is highly likely after yesterday’s push for a higher low.
Any breakout needs to happen quickly, if it is going to happen.
Fragile support at $9,323. Lower FIB support at $8,932.
Lots of room for movement still on the RSI downside.
I would be surprised at any movement up.
BAT (Bought at 0.1618) with a stop loss in profit set below the 50 day MA line.
XRP (Bought at 0.22460) with no stop loss, will hold if I have to. Very bad risk management on this one. You don’t win them all though. Haven’t sold therefore I haven’t lost.
Recent stopped out trades (in profit) were:
NEO (Bought at 8.408 / Sold at 10.010)
TRX (Bought at 0.01394 / Sold at 0.01500)