So much for the Bakkt pump. Makes sense…it’s been in the cryptosphere for over a year now, so highly likely it was already priced in.
Top to bottom:
-the down trend line remains…down trendy
-price is under the buy/sell line (50 SMA daily) as well as fast & not so fast EMA’s
-5 RSI EMA is looking down like it dropped some money
The good news is that this is still within the consolidation range. The bad news is that the bottom seems to be tested more often than the top…sort of like another bottom we thought was in last year (ahem: 6k). Downside break has a few speed bumps before heartbreak range if you bought during the summer. Even at 5.6k it’ll be the best performing asset of the year so far…just don’t tell your wife that when you’re 4k in the red. No trades unless you’re into short selling. Current price & possible lows will look like a bargain in a year or two. Don’t miss out on silver.
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Short @9600. Took profit on half position at 8.7k, stop loss moved to 9.3k to let it ride.
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$8,700 taken out and price couldn't close above it on several attempts. Trade still in progress, moving stop to $8,800 which is about 1x ATR on the daily.
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Took profit on another .25 BTC @ $8050, moved stop loss for last .25 BTC to $8500.