BTC daily breakout trade (notes in progress)
Stock market experiencing downside volatility with FED cut and new tariffs. Gold picking back up. BTC breaking out from downtrend. Noting that GBTC was moving stronger than BTC before the daily break. After a bearish month of July, looking to see if we can get more bullish action this month. My conviction is higher in this trade as I also used capital in my stock trading account for this move. The GBTC chart is clearer but lacking the 24 hour data. Looking to see if we get volume going into the end of the first week and starting of the month. The weekly candle in GBTC is forming a notable bullish engulfing maraboza candle. The BTC weekly candle is looking for a trend change. Also noting BCH and LTC started their daily break a couple days ago (early possible signal).
New month of trading =)
GBTC D, (additional swing entry)
GBTC W, notable forming candle
BTC W, working on a weekly trend change
Trade Management
Exited position along with GBTC on the gap up (GBTC) and re-assessing a new position. I went with an exit instead of setting a stop loss because I will be limited from the computer this morning and I needed to start the month with better performance due to last month's total trading performance. There is also some news with this trust and coinbase. So will be watching closely as possible.
BTC 4h,
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-08-01 15:04:30 | BTC | buy | $10250.830 | long |
2019-08-01 15:04:30 | BTC | buy | $3248.428 | long |
2019-08-02 10:11:04 | BTC | sell | $10537.430 | long |
2019-08-02 10:11:04 | BTC | sell | $3339.250 | 0 |
2019-08-02 23:59:59 | BTC | sell | $10250.830 | short |
2019-08-02 23:59:59 | BTC | buy | $10537.430 | 0 |
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