I just made a bitcoin short idea and honestly after seeing Eth I have to make one for it as well. I am mixed between the 2. Eth looks cleaner for me and at a safer level compared to bitcoin right now.
Bitcoin is still correcting its showing signs that it can give way any moment though
Am not gonna fomo though and get in too early. I would like my entry be a confident one at the end of this hour or a bit later.
When its ready and I enter I expect it to start melting right away with little to no draw down. There's no eth volume to support price right now on the weekend and it has lost major support levels.
Where I marked off on the chart for tp is where I anticipate that price could probably find some support.
Final verdict. I asked my younger which he like better eth or bitcoin and he says eth. And I agree. The RR will probable be bigger if bitcoin was to fall to $56000 or lower
at current price eth is roughly 8RR to $2250 and 16 RR to $2000
Time to lock. I'll post when I enter
Bitcoin is still correcting its showing signs that it can give way any moment though
Am not gonna fomo though and get in too early. I would like my entry be a confident one at the end of this hour or a bit later.
When its ready and I enter I expect it to start melting right away with little to no draw down. There's no eth volume to support price right now on the weekend and it has lost major support levels.
Where I marked off on the chart for tp is where I anticipate that price could probably find some support.
Final verdict. I asked my younger which he like better eth or bitcoin and he says eth. And I agree. The RR will probable be bigger if bitcoin was to fall to $56000 or lower
at current price eth is roughly 8RR to $2250 and 16 RR to $2000
Time to lock. I'll post when I enter
Note
Just entered
Note
Still monitoring in case I entered a bit early. I might exit and re enterNote
Closed eth short. Waiting a bit moreNote
Good decision to exit I would say. Its not ready yet but soon.
Note
Just re entered eth shortNote
Trade above didn't work out. After that I went over to bitcoin and was trading it instead. See here
Note
So far though, the overall trade idea in terms of direction is going according to plan. Just I was a bit off with the timing. Miss-interpreted a few things.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.