BTC/USD Bitfinex
https://coinigy.com/
Profile: 12/26/17
Bitcoin (BTC)
Price: 15 918,-$
Marketcap. 272 $ bl. / Rank 1 Coinmarketcap
https://coinmarketcap.com/currencies/bitcoin/
Start Trading 12/21/17
https://steemit.com/cryptocurrency/@masterthematrix/the-holy-spirit-of-christmas-and-bitcoin-embedded-in-a-head-and-shoulder-pattern
Open Trade: buy 12 500,- $
Stop Trade: 11 500,- $ (hourly based candelchart)
Target: 17 000,- $
Update 26/12/17
Bitcoin Price: 15 918,-$
Profit: 3 418,-$ = 27.34%
New Stop (2): 14 000,-$
Trading Setup:
https://steemit.com/cryptocurrency/@masterthematrix/the-holy-spirit-of-christmas-and-bitcoin-embedded-in-a-head-and-shoulder-pattern
Quote: From my last post “BTC/USD is trading upwards on a trend line that started 11/12/17 at around 5400,- USD and peaked at around 20 000,- USD. The short term correction move is embedded in a head and shoulder pattern. As we can see on the chart the support zone at 12 500 USD is corresponding with the upcoming trend line. At this point where the support line and the trend line meet, therecould be a turning point. We have to expect higher volatility, and therefore I have also drawn a possible overshoot zone for a intraday reversal. Overall, I think we will find good support at 12 500 USD and the odds are more likely that we will fulfill the head and shoulder pattern with another right shoulder.”
Now look at the Chart what happened. Yes the Support zone at around 12 500,- USD was a good entry Point to get in. Yes we had high volatility and the overshoot zone was needed. The lowest point at 10 700,-USD just got touched briefly. And look at the hourly intraday reversal at 11 500,- where I have put my Stop. This is just one gorgeous chart that got fulfilled!!!
There was even a second chance to get in at 11 500,-USD levels, and now we have built a double bottom and are making our move up to the projected right shoulder at around 17 500,-$. There is still a possibility that we might see a lower hanging right shoulder. In this case the target needs to be adjusted to around 16 500,/-$.
Congratulations to everybody who followed this trade and can enjoy now a descent 27.34% gain in just 5 days.
I wish you all a happy new Year,
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