Long Term Update: Sold 1 unit at 16.22$

OUT OF MARKET | waiting next trading signal

I sold this morning (UTC+1 time) at 16.22$, 8.71 profit per btc for a total profit of 871$. I bought at 7.51$ on May 25th, since then the market rushed to 32$ collapsed to 11$ for then stabilizing at 19$. During this process i’ve had a sell signal at around 16$, i decided to wait a bit but now, due to the resume of the slide, i can’t watch without doing nothing or i’d be very indisciplined doing that. The overall picture now looks bearish and the 16$ level will probably not hold today.

I think the bitcoin value will drop to the 13$ zone where it might find some support. The inverse fisher RSI is now oversold indicating weakness of the market  and confirming the beginning of a downtrend.

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4 thoughts on “Long Term Update: Sold 1 unit at 16.22$

  1. Jeremy

    It seems we had countless good headlines about bitcoins in this period and yet the market kept dropping, very negative bearish sentiment.
    Good trade, i’ve noticed that you reached 2500 usd of profit since 13 may, amazing.

  2. geek88

    Excellent trade, again…
    You have sold the short term trade at 28$ and the long term at 16$, average price 22$, not bad at all. 15$ and falling, i’m very bearish now but I remain bullish long-term

  3. clone4501

    Great call! The $13 range does appear to be the current support level. I have been nibbling on the way down but cancelled my major trades. It seems like the hoopla is just about over for Bitcoin for now. I am long term bullish, but short term, It’s hard to say if we have seen the bottom. With over 12,000 BTCs mined per day and some of the technical difficulties beginning to emerge in the press in using and implementiing bitcoin for the non-geeks, there may be continued downard pressure for now.

  4. geek88

    Yes nice call, i’ve bought at 13.32$ and sold at 15$, i agree with you clone4501, i’m bearish in the short term and bullish for long term.

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