I suspect a slight pullback is coming, rsi divergence or long term scale + just broke out of new bullish channel. Retest at green channel and then on to near 9000. Other charts show pullbacks at 9000 to retest the long term exponential price curve and I suspect the same thing as BTC always dips after breaking new 1000's. Dumb money will probably help push it along to its 9k target, making sure to only buy pullbacks because this thing is going to turn fast. Strong momentum/EOM and CMF + MACD buy sig for both price and vwap are reassuring
Trade active:
Opened short in deribit futures market 8276.00. We've been just hanging on all day from novices buying on news. Dump time!
Trade closed manually:
Take profit from shorting futures because I like to keep my money at the end of the day :)
Comment:
Got in a bit late since I can't do conditional orders on Kraken. I knew it would be bad entry but I don't want to miss out on another steady price increase as we are nearing 9000. I suspect a retest of 8270 with a stop of 8240 ( Fib retrenchment 66.6%)
Comment:
Want to add I should of seen this top forming looking back there is clear RSI divergence and a decrease in Chaikin Money Flow as winners take their profits. Also I got in this trade near the top Fibonacci zone for its bar's time period so there was really no chance.
Trade closed: stop reached:
Stopped out. Price falling with no support