BitBotly

Bitcoin in a descending triangle

Short
BitBotly Updated   
BITFINEX:BTCUSD   Bitcoin
Hello Friends! BitBotly Here with a thought about the current state of bitcoin.
Skippy, our algorithmic trader, pointed out that there is a descending triangle building currently.
The descending triangle shows all the symptoms:
  • 1. Lower highs connected by a trend-line
  • 2. Similar lows, or lower lows
As we all know, a descending triangle is a sign of bearish continuation, which means that we're waiting for a breakdown of the support level which will lead to greater downside.
See how skippy made us 15,000$ this month here
Trade active:
Short Bitcoin
Entry: 6960.3
Stop loss: 7003.6
Position size: 25% of (total)capital
Comment:
Stop loss moved to 6977.0 :)
Comment:
Stop loss moved to 6964 :)
Soooo close to break-even :)
Comment:
Stop loss moved to 6960.0
Trade is at least breakeven :)
Comment:
Stop loss moved to 6942.0 :)
Guaranteed profit! :)
Comment:
Stop loss moved to 6915 :)
Trade closed: target reached:
Trade closed with +2.18% profit :)
tiny.cc/TradingHistory

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