Quick update on bitcoin, 50 day average at risk

in #bitcoin2 years ago

With about 11 hours to go until the close of the daily candle it is looking like the 50 day moving average is finally at risk of failing.

My plan

I added to my short because I am greedy, am hoping for the 50 day to hold. If it doesn't I will be closing my longs (I rarely short bitcoin except as a hedge).

My next buy targets will be at the top of the year long trend at around 12k and the 100 day average which lines up to the 10k area. Then the go all in point will be around the 8k mark which is the bottom of the year long trend.

Thanks for reading.



My favourite site for trading is Bitmex, as the future contracts allow for lots of arbitage opportunites and the leverage lets me leave most of my stash safe in cold storage. If you don't already use it and would like to sign up, here is a referral link that will get you 10% off fees and rewards me with 10% of the fees you pay, we both win.

A coupld of exchange sites I also use are binance and hitbtc, I find them about as good as the other exchanges to be honest but these have referal links so I figure I'd shill for them.

binance link

hitbtc link

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Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.

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