Bitcoin Price Diary: How Everything Went 100% Right With My $7.3K Long
Cointelegraph By Scott Melker's original article for cointelegraph.com reduced by 40%
The sixth installment of my trade journal features one of my best Bitcoin swing trades ever, catching much of the 40% move that caught many traders off guard. As discussed in my previous journal, after a significant break down from the bear flag on Oct. 23, Bitcoin price approached a buy order that I had set in June 2019.
Considering the 40% move, this was a very early place to start taking profit, but I was comfortable locking in gains in an area where the price was likely to stall, if not reverse back down. BTC price moved quickly through the first target, and in a matter of hours had reached the top of the range, filling my second round of asks at $8,500. At this point, I did not have an exact take profit set, as I wanted to watch price action for a good spot to close the remaining of the position Price ultimately moved above $10,000 quickly, so I moved a stop loss to just under this psychological level.
As chronicled in the previous trade, Bitcoin made a massive move and then began to retrace. Price dropped to the 50% level, filling my bids for a new Bitcoin position.
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CN [too long; didn’t read]
Summarised crypto news.