2 May BTC Trade Strategy

There is a huge sell wall 1000+ BTC at 8840;to be exact, the level is 8834. This clearly shows a clear cut manipulation of bitcoin price to keep it low.

Added a short trade at 8830 which was triggered, and a SL at 8834. Why such a small stop loss? cause if the sell wall is triggered, most likely the price will head northwards very fast, so a tight SL is added. At the same time, another long limit option at 8840 to catch the ride up if that wall is indeed lifted.

Cons of having two trades is if there is a whiplash is prices, both positions will be lost but the initial trade stop loss is really kept to a minimal. The objective is to enter trades when there is clearly manipulation in the market by the whales and ride accordingly.

Leave a Reply

RSS
Follow by Email