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Jul 8, 2019 04:12

Shares traded: 6
Closed Gross P&L: $22.69


C Trade Cryptocurrencies Pre-equilibium Break

BTC in it's tightest range in the past couple days. Early morning at the moment and wanted put on a position for the break and have a stop just incase there is no follow through and strong reversal. ETH has been showing some relative strength and above previous noted vwap's. BTC has been testing the vwap's and price holding up more bullish and showing more strength. Still far away from highest resistance and a couple ones including 61.8%. It would be a perfect brew to consolidate and tighten up prior to a strong break to build momentum. We will see but will stop out around previous major level + below noted vwap's. Also noting ~200 BTC at 11.2k + ~100 BTC at 11k on the orderbook bids. No notable time & sales due to current time and price range. No notable asks + just the normal algorithmic look of the tape.

  • no significant data metrics/stats

BTC 6h, also along with tightening EQ, volume has been notably tapering off. Another characteristic before a ramp up in momentum up or down.

ETH 6h,

BTC 24h, holding this position and adding if there is a bullish consolidation. Exiting on a partial profit if bears take over.

Trade Review + Management

I changed my plan on mobile and on the fly and decided to exit my position as price was reaching a 61.8 level with prior resistance. Bulls did indeed follow through more. I also funded my crypto account with 50% more capital to prepare on the break of the highs if price re-tests. I'm looking to buy on a bullish reversal following a bullish consolidation. If bears take over which would require more movement then I'd be more patient. **A reminder to myself that I'm not trading to catch the whole move. And roughly if I have captured 50% or more of the move then I'd consider this as a properly executed trade. Thus far at current price levels on this move I've accomplished that.

Noting also the vwap's are increasing in slope which is another bullish development.

BTC 4h,

Execution detail:

Date/time Symbol Qty Price Position
2019-07-08 04:12:27 BTC 1 $11458.870 1
2019-07-08 04:12:27 BTC 1 $343.766 2
2019-07-08 15:51:39 BTC -1 $12215.310 1
2019-07-08 15:51:39 BTC -1 $366.459 0
2019-07-08 23:59:59 BTC -1 $11458.870 -1
2019-07-08 23:59:59 BTC 1 $12215.310 0

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