Potential buying targets

As i said yesterday in my past long ideas to bitcoin, i had exited all my margin positions.
Today we've seen an interesting dump, though it failed to reverse yesterday's green candle.
Still i have reasons to think this is kinda' topish and that we could see a major and long over due correction.

If bitcoin goes bubble, we might skip this correction, but if it doesn't, this will happen sooner or later. And it is healthy that it happens. Corrections provide support and confidence to traders, they are necessary to avoid "the big crash", as happened already three times to bitcoin ($30 to $2, $250 to $80, $1100 to $200).

My buying points are signaled in the chart with red lines and labeled with the porcentage of my desired position i will open at each level.

1035 - 10%
965 - 20%
905 - 30%
860 - 40%

Going to use a "high" margin, x4, as if this plays out i'm sure mid-term the price will recover to 1000 level at the very minimum.

We should be constantly checking what is happening with China, as PBOC could further devaluate the CNY (potentially pumping btc price) or the goverment could forbid/make difficult to acquire bitcoin (potentially dumping btc price).

So keep up to date and be ready to close a loosing position.

PS. I still hold all my spot coins. Planing to sell 50% of my spot coins at ~1490, where the next resistance should be found.
PS2. Not shorting this at all, I only deleveraged yesterday and looking for entry points to leveraged positions.

Comentário:

1h later we already reached buying target 1.
This will keep going down but i am not scared at all.
This was long over due and really needed.
Possible reversal zone in the 5200-5500 CNY range, keep an eye to eastern exchanges (okcoin and huobi).
Huobi initiated the doom dump, so probably it will end there too.

Comentário:

Buying targets 2 and 3 destroyed (filled) too.

Added another buy target at 820.

Comentário:

Just got rid of 965+905 at 1010
Reseting buying targets.

Comentário:

Target at 965 reached again. Reloaded.
Ready to reload at 905, 860 and 820 too.

Comentário:

Dumped it at 990.
Re-placed again order.

Comentário:

Lol, already reloaded at 965.
This time will hold it longer, as i am going to have lunch now.
Let's hope there is no more retrace under 820

Comentário:

I never do this, and wont ever do it again.
But i know this trade might sound fake to some due to its quick moves, but here is the proof.
imgur.com/icllTz9

Comentário:

905 and 860 targets filled.
820 kissed but not reached

Dumping the amoutns bought at 905 and 860 at 910

Comentário:

Done. Reloading at 850-820-790-760.
This is what caused more dumps:
shanghai.pbc.gov.cn/...1/3230012/index.html

Comentário:

More doom?
beijing.pbc.gov.cn/b...5/3230072/index.html

Comentário:

We got filled down to 850 and 820.
I also have filled an order at 965 and an order at 1035 that never got to close at profit.
Now it seems to be rebounding.
All my indicators suggest next weekly candle must be green and there is not much room to gow down now, so i trust this trade will be profitable.
So far i managed to keep my usd value almost with no change while i've increased my btc value.

Comentário:

Dumpage should be over.
It is probably short squeeze time.
Though we must keep an eye in PBOC decissions, yuan us dollar rate and chinese exchangers.

Comentário:

Here it is an analysis of fundamentals/technichals we are currently ongoing.
Will keep up to date my long decissions/targets in the new chart/idea, as this is over-commented with short-term meaningless decissions.

Trade fechado manualmente:

Follow updates in the chart linked above.