Bitcoin is a Trader's Paradise
Morning degens!
I’ve been taking a bit longer on my trade setups over the last few days and I’ve also been recovering from another round of a personal illness; it does make it difficult to trade because I simply cannot concentrate as much as I would like!
But thankfully bitcoin never sleeps and the market is always ready to take my money!
I’d been tracking it for a few days and it’s been up and down so many times — I was just waiting for the right opportunity.
I decided that I’d have a go at shorting the rip that had just occurred early-Monday morning so I put on the trade after seeing a bunch of confluence on harmonics.
I didn’t have any idea that it would take most of the day to even start a significant fade south but I packed a bit more near the end as volume continued to slide:
I was in and out of profits a few times which is frustrating but I had a tight stop loss and was willing to wait this out a bit.
A Black Swan on the 15 and we’re headed south:
I hunted for a stop loss and was stopped out too soon on this mega-fade:
But, since I had some significant bags I walked away with over $1,000 in profit — not a bad start to the week!
I’m grateful for the good start and I’m ready for bitcoin to return to some higher prices — but even if she doesn’t we’ll be ready to spot marks for entry and exits so that we can profit on the volatility of the most interesting digital asset in the world.
Have a great week folks!
To infinity & bitcoin,
— 8ɃIT