Possible short on bitcoin for 5555 target and stop loss at 6001
Long Reasons:
1. It has been decided NOT to pursue the re-org approach
2. The drop in price did not sustain. Instead, buyers came back. Every drop has been bought back.
3. The overall momentum is bullish
4 It tried to breach 6000. If broken, expecting 6167 then target 7118.
5. One after another we have bad news. But, bitcoin still stands back up.
Reasons for not going long
1. It has been stated re-org possible that was not known before
2. No fund can be withdrawn for a week. It can cause a bit of chaos.
3. It is at the top of the trend-line and trying to break. If it can not break, then there can be a drop towards 5599.
4. The Tether thingy has not resolved yet! What is going on in Bitfinex?
5. Gut says it will need atleast two more attemps before breaking the 6001 Saying that, the drop today at 6000 was kinda large for such a time. What gives? Are there more hidden large short orders at that price?
6. The 4HR Sar has turned upside down.
7. Large resistance at 6000
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I really do not think this will go down a lot. However, my target for covering is 5555. I believe in Thai 5555 means hahaha. I suppose bitcoin will laugh at us. I do not know. I will keep on chasing and close when I have good profits. The stop loss is hard limit. Since the market is bullish overall, I will not go with large amount. Just a tiny mount to see the water aka.
Do realize this is no way any indication by me for you to do any trading of your money. This is just my thoughts and I make more loss than I make money.
an hour ago
Follow me, maybe?
Let me know what you think on comments below.
NOTE: I think the momentum is just too strong. I might open a long position soon! I am getting nervously undecided
1. It has been decided NOT to pursue the re-org approach
2. The drop in price did not sustain. Instead, buyers came back. Every drop has been bought back.
3. The overall momentum is bullish
4 It tried to breach 6000. If broken, expecting 6167 then target 7118.
5. One after another we have bad news. But, bitcoin still stands back up.
Reasons for not going long
1. It has been stated re-org possible that was not known before
2. No fund can be withdrawn for a week. It can cause a bit of chaos.
3. It is at the top of the trend-line and trying to break. If it can not break, then there can be a drop towards 5599.
4. The Tether thingy has not resolved yet! What is going on in Bitfinex?
5. Gut says it will need atleast two more attemps before breaking the 6001 Saying that, the drop today at 6000 was kinda large for such a time. What gives? Are there more hidden large short orders at that price?
6. The 4HR Sar has turned upside down.
7. Large resistance at 6000
Please like me if you think these has been worth reading. Please follow me as well.
And, please please write me comments what you think.
I really do not think this will go down a lot. However, my target for covering is 5555. I believe in Thai 5555 means hahaha. I suppose bitcoin will laugh at us. I do not know. I will keep on chasing and close when I have good profits. The stop loss is hard limit. Since the market is bullish overall, I will not go with large amount. Just a tiny mount to see the water aka.
Do realize this is no way any indication by me for you to do any trading of your money. This is just my thoughts and I make more loss than I make money.
an hour ago
Follow me, maybe?
Let me know what you think on comments below.
NOTE: I think the momentum is just too strong. I might open a long position soon! I am getting nervously undecided