Bitcoin (BTC) MA Death/Golden Cross Analysis (Part 14) --> 42%

24 May 2018

Welcome to the short leg of this trade! Below are the stats for this segment:

Segment 8

• 05/19/2018 - BUY $8,200
  
• 05/22/2018 - SELL $8,300
  
• TBD - BUY TBD
  
• Beginning ($): $14,200
  
• Ending ($): $14,200
  
• Beginning (BTC): 1.71
  
• Ending (BTC): TBD
  

We didn't make much of a gain against USD on our long leg, it looks like Bitcoin has been solidly descending over the past couple of weeks. We are seeing a big gap between the MA and the price right now, so expect this short to last for the next couple of days at least!

26 May 2018

Not

The price leveled out today after a decline yesterday. We just saw a small spike forcing the RSI to show overbought, so let's see what tomorrow brings us. Let's use $100 above the MA as a trigger here, since just touching the MA may not be the right signal to trade here. A confirmed breakout above the MA will show that we're seeing some sort of reversal. If the price intersects the MA with the RSI in the middle, I will be trading on that. Stay tuned tomorrow, it looks like we'll be seeing some action then!

26 May 2018

Not

Another look here, we want to see the price follow this upward-facing parabolic curve, or another similar to it. We'll look for the MA to level out.

27 May 2018

Not

We've dropped about $1k since our short position, it looks like we're still a day (or more) out from a reversal in our position!

28 May 2018

Not

Turns out we haven't found the bottom yet! We've got $200-$300 in distance between the MA and the price. RSI is showing oversold, but I don't think we'll be seeing a reversal in the next day!

29 May 2018

İşlem aktif

And we're long! We broke our MA at $7,450 last night and will be using $7,200 as a stop for the next few days. I'll be posting a long-tracking position shortly!

29 May 2018

Not

Track our long position here!