see chart for setup
Trade active:
Shorted 2562.
Looking at the 15min /30min / hourly chart i see the rsi is topping.
Looking at the 4hr chart the rsi could still go up some more.
it's possible that were getting a small re-test of the bottom or make a bounce above the last bottom and go up some more after that for a upper trendline test.
This time i'm not going to close my short at the bottom if it tests because of the possibility of a crash (bearish sentiment). I will anticipate the bounce if it comes and add to my short around 2600,
Stop will remain at the same place above the upper trendline
Looking at the 15min /30min / hourly chart i see the rsi is topping.
Looking at the 4hr chart the rsi could still go up some more.
it's possible that were getting a small re-test of the bottom or make a bounce above the last bottom and go up some more after that for a upper trendline test.
This time i'm not going to close my short at the bottom if it tests because of the possibility of a crash (bearish sentiment). I will anticipate the bounce if it comes and add to my short around 2600,
Stop will remain at the same place above the upper trendline
Trade active:
added more to short at 2570
Trade closed manually:
closed waaay to early :(
But im also thinking i should stick to my plan, keep the short and just add a the last 25% at 2620~, but that would mean risking a -2-3% pnl at upper trendline level, where it is possible btc could break to the upside and me having a large loss.
I think i'm going for a 50% close, so I minimize risk and gains in case the drop happens earlier than 2600.