BTC Tade setup - Averaging down on Longs

15 Mar 2018

$7510 to $8550 back down to $7900 for the decider. After $7900 decision it will define which channel we play in. Either $6000 or up to $11500.
I'm bullish on BTC long term (1 year +). Short term it is a great opportunity to double down or decrease base price on long positions. There have been some great opportunities with the recent volatility but many are caught holding. My advise is to ensure any liquidation price is kept below what you consider to be the lowest support line, I see worst case as around $4500. For every buy order have a corresponding sell order to take profit. Trade your trends, remember this is a different market to previous years so reassess your strategies.

If there is 1 thing you can bet on it is that BTC will remain volatile and that is gold. Also keep an eye on which alts hold up best through a downtrend, it's a good indicator for their long term strength and they also provide great opportunities for 50%+ gains on the rebound.

Good luck

15 Mar 2018

Not

Got close to the $8500. Currently testing $7900, which looks to be holding up well. I closed a nice quick 7% and am re-opening a long with 50% balance so I can wait for clearer confirmation of direction & reduce my base price further if needed price drops.