- Bearish engulfing candlestick pattern.
- Trading below EMA5/EMA10.
- Bear volume dominating.
- Bitcoin bearish on higher timeframes.
- MACD and RSI bearish.
Stop-loss: Full candle close above $10,111.
Targets: $9,500 followed by $9,000-$9,200.
Enjoy the profits as they come.
Make a habit of securing profits (sell and put some money aside, always, that can be used to cash out, new opportunities, etc).
- This is not a piece of trade advice.
- Trade at your own risk.
- Leveraged trading is high-risk and for advanced/experienced traders only.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.