This is a scalping trade I am taking on BSV
I would not put in more than $100. If both the long and the short trade comes out successful, then the potential profit is $5000. In other words, I am trying to convert $100 into $5kish.
There are two legs of this trade. One leg basically involves price rising till the top of the flat Kumo cloud. Then it gets rejected...
FTX:BSVPERP has yet to make a move, even with BTC's pump along with all the other perpetual contracts along with it. This MA50 seems like the perfect opportunity to get in before the ride.
Entry: 193.52
Target 1: 210
Target 2: 220
SL: 184.59
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