BTC Weekly Update @coinselor

14. Okt. 2019

We just had a very interesting weekly candle close. After breaking down below 9K BTC has been consolidating in this 7700-8700 trading range. Even though technically the weekly closed above the support line I've established at around 8250, I don't really give much weight to the exactitude of drawn lines on the chart.

What's really important is the price action itself. In this case, last 2 candles are showing relatively big wicks on the top side, indicating a successful major level of resistance.

Still holding a medium term bearish bias and expecting to break below 7k. A daily close below 8250 will be my trigger to start placing bids.

XBTUSD
Market Cap:
$149,864,919,579 USD
17,991,050 BTC

25. Okt. 2019

Trade geschlossen: Ziel wurde erreicht

I am effectively out of all my BTC short positions because of an unfavorable evolving risk-reward. The upside on the trade is minuscule compared to the risk in giving up all accumulated profits.

This includes short positions from well before the triangle broke down.