Three Trades I Have Taken Today

One with a nice 2x potential. #bitcoin #altcoins #crypto #trader

As Soon As I Sell My Bags

Traders,

It’s happened numerous times before. The market dumps, then jets. Though these liquidation events occur quite often in crypto, we need to be careful about banking on take-off afterward every time. Sometimes the market dumps, and then dumps more. And sometimes when we think it’s all over, it mega-dumps. Though technical analysis can help us curb the odds of betting wrong, it can only give us a probability metric. It is not a crystal ball.

But technicals are important and can definitely help us improve our odds of winning.

As you know, I sold all of my winning trades that were in the profit yesterday. I did this because I wanted confirmation that the move up was legit and we wouldn’t simply sell right back down. I wanted to see Bitcoin close above 58,200. I also wanted to see another candle open and close above that same level to confirm the move. And even though we don’t have our candle close yet, it’s looking very likely that today we will close at around 60k. This is a good sign. So, even though Bitcoin has to fight the overhead resistance of all three of our major moving averages (50,100,200), the candle close today is bullish to me. And we remain in our channel (also a good sign)!

Bitcoin Daily

That being said, I have taken three solid entries on this small pull-back today, one of them should give us 2x profit fairly quickly.