BTC - Taking profits: Good money comes easy.

27 באפר׳ 2020

Ok, so BTCUSD did what was expected, and is giving to us a nice 10% profit in 6 days. If you missed my last call on BTC, you can check it here:

The buy sign was given by that harami, officially triggered at April 22, close to 21 ema and the upward trendline (purple). The stop was set at a few cents under the harami’s low.

The risk of this operation was about 2,5%, and no it is profiting 10%, a 4:1 risk/gain relationship. Not bad.

Now, what should we do? We can consider BTC is in a resistance zone (green rectangle), so if you are uncomfortable, just take your profits and go enjoy life. Or you could just sell half of you position and keep the other half, just in case. Personally, I like to look at the hourly chart for more clues:



Now, it is simple. If it drops bellow the pink line, then just sell and wait for another signal. We could even short, but be careful, because it is a bull trend.

If you missed this trade and want to buy, just wait for a pullback. Look at the daily chart, if it goes to the blue line, near the 21 ema or the purple trendline, you can keep your eyes open. At the first bullish signal, buy it.

Congratulations for those who did catch this trade.
If you didn’t, just be patient, more opportunities will come for sure. Follow me for more analysis and keep in touch.