Bitcoin continues to push higher into an area prone to faking out longs. We are going to opt to take some profit off the table here, yet keep 1/2 our position on.
Overview
Bitcoin continues to push higher into an area prone to faking out longs. We are going to opt to take some profit off the table here, yet keep 1/2 our position on. By doing this we limit our risk, yet if the market decides to move higher we still have some exposure.
Sell 1/2 position (.25 BTC) @ 12920 of position trade from 10,100
This puts our remaining .25 BTC at an average cost of 7280.00.
Some may choose to trim out a little less or more depending on your current inventory.
We are entering an area where a pullback can happen quickly and we do not want to have not locked anything in here. 13k is a psychological level.
The record will reflect 12,894 as that is where I sold after sending out the signal.