Trading Ƀitcoin

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3.5 Hours of Work...

www.8bit.trading

3.5 Hours of Work...

... and $400 in profit. Let's go.

8ƀit
Apr 20, 2022
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3.5 Hours of Work...

www.8bit.trading

Hello degens!

Starting the morning off with a fade? Why not! I saw a Black Swan validate into a Crab on the 15min and also see similar on the 1hr:

Twitter avatar for @8BIT
8ƀit @8BIT
gm degens! 👀 — black swan into crab on the 15? confluence with same on 1hr? shall we start the morning with a fade $btc? lol. #bitcoin #btc
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3:02 PM ∙ Apr 19, 2022

So, I thought I’d give it a whirl:

Put in the order!

And we’d see how she does:

Let’s see if she prints.

Remember that just yesterday we literally tried the same thing to fade her into the dust and she decided to instead consolidate and rip through levels. Consequently, we’ll be keeping a close eye on this bullish momentum that’s still drawing retail into the game.

I’d love to continue to see her ride high and we’ll try to trade her up and down as we go! Trading view made a nice update as well with being able to collapse more panels to keep your work areas clean:

Nice. Shiny.

I put in some orders to take profits as well as stop my losses since I really do feel that aggression to the upside! I don’t mind losing a little here and there as I test-drive some new trading workflows and signals.

Unsure of which would hit first.

I wasn’t entirely happy with my entry so if I had a chance to reset it I might, depending on how volume behaves as well as any other harmonics that might show up to create confluence. Are we still distributing via Wyckoff?

Twitter avatar for @8BIT
8ƀit @8BIT
... walking into a wyckoff? ... fascinating stuff. extremely useful too. very useful. $btc #bitcoin #btc
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4:47 AM ∙ Apr 16, 2022
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And, as things started to print in my favor I began thinking about backstopping into profit and making sure I could capture what’s on the table in case of a epic reversal that blows me out to even:

You never know with bitcoin!

I started looking for more confluences — I saw a Dragon on the 5 that might force me out so I’ll keep that close by as well. The farthest I think this could go for profits might be $40,222 but that would be deep; exiting a bit early would probably be a safer bet.

414% ROE would be excellent.

By the way, the exchange that I use has a really nice (and constantly updated) mobile app that I actually use to do live trading — which has really surprised me because I wouldn’t have thought that I’d be able to trade so easily on just my phone.

We live in wild, wild times my friends!

Price action started acting all wonky and she was taking too long to fade much deeper — I made the conservative decision to stop loss hunt this one down and make sure I could get some good and decent profits before she blew me to the upside. Using the mobile app I changed things up:

Babysitting it tight.

You can see that the mobile app shows you not only your entry but also your exits:

Stop loss order at $41,404.

And then I waited for things to unfold and a few minutes later a massive drive to the upside blew me out — here’s the full journey from start to finish:

Whoa… strength!

But I wasn’t unhappy because we came away with some profit:

Steak dinner tonight.

With nearly a 60% ROE equalling just north of $400 I think that was a good use of my time! From soup-to-nuts the entire trade ~3.5 hours of play:

Enter @ 4:57am, exit @ 8:24am.

Not a bad start to the day!

A few hours later (and after taking a really great, long walk) I saw a Bat and Shark possibility on the 15min that would find confluence with the short that we took earlier:

Twitter avatar for @8BIT
8ƀit @8BIT
... might continue to print lower; all good! i took my profits. ... bat / shark on the 15? entry is lower which would work for that fade that we saw. $btc #bitcoin #btc
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8:28 PM ∙ Apr 19, 2022

Perhaps we could ride this a bit lower for more profits? I put the order in with a tight stop loss and took a swing:

Get it in.

Here’s I think the PRZ for the previous bullish harmonics could print between $41,100 and $40,800 — so that might be a good place to exit as well.

Maybe one more fade for the day?

Let’s see if she rides? Tight stop loss on this one and… we’re out:

You can see there’s a big fight over this area and sometimes it’s better to just jump out instead of join the fray — this time, I’m out and waiting on the next entry.

It’s a battle.

She’ll compress until she’s good and ready:

Twitter avatar for @8BIT
8ƀit @8BIT
#bitcoin getting ready for teh boom... ... the question is one of direction. a little longer on that compression and we gonna 💥. $btc #btc
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11:01 PM ∙ Apr 19, 2022

To infinity & bitcoin,

— 8ɃIT

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3.5 Hours of Work...

www.8bit.trading
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