BTC short on H4 using MetaWorld Crypto indicator suite

18. Okt. 2022

BTC on H4 (4-hour chart) formed a short-term rising trendline, bearish upon break of trend, which it did. Providing additional confluence was the MetaWorld Crypto indicator suite Advanced RSI indicator, which showed RSI at top of RSI Bollinger Band (potential overbought condition). Stochastic RSI also showed above 90 with K crossing D downwards. Entered short position with 5X leverage, a little late to the party (meaning I could have entered earlier), Stop Loss placed above recent resistance level $20,025 and Take Profit set to recent support levels. Will add to the position if Price Action retests the trendline and then continues to fall.

18. Okt. 2022

Anmerkung

Chose to exit trade when bearish momentum did not continue, H1 chart showed long down wick and the price climbed on next candle, exited at $19,537, entry at 19,530.5, minimizing loss to 0.17% or ($0.41) on $250 entry at 5X leverage (positio value $1,250).

19. Okt. 2022

Anmerkung

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