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*Update to Swing Trade 18 -​ BTC/USD - BITFINEX SHORT*

Entry: 6,900 -​ 7,200 (may have a​ throw-over to 7,500)
Take Profit:​ 4,400 (+32%)
Stop-Loss: 7,512 (-9%)

>*Couple thoughts here:*

1. If we do not reach 6.8K - I do expect​ bearish sentiment to start taking over shorter-term​ that​ may lead​ to a​ longer-term effect where we​ could see BTC​ at sub-5K regions

2. If we do reach 6.8K with increasing bullish volume, I do believe we will be​ able to break it and possibly reach 7.0K - 7.2K​ region​ in line​ with our pitchfork median line.

3. If we do​ break​ 7.2K and trend in the​ upper-part of pitchfork, I'm expecting a more bullish outlook​ for​ BTC to continue a weekly higher-low​ pattern to take us​ to our next large resistance at 10K.

4.​ My overall sentiment is bearish until​ we break some key resistance levels, especially 7.2K area.

A few options​ that​ I'm considering:
a.​ Short at key resistance levels​ (6.8​ / 7.0 / 7.2)

b. Long on breakout ---> retest of support.

c.​ Short now​ and ladder up to 6.85​ with a​ stop-loss above 6.9​ in hopes​ of​ a​ failed test

d. Wait​ for breakout on either side and​ play the trend.
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One of our members sharing today’s results for him using project edge to catch a bunch of high success rate signals. Auto trading alts has been pretty nice.
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Not a lot of channels talked about the inflection point for tether and identified the tether sell of early and the impact to BTC because of it. Well our channels got it and we made sure to share it.
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We have daytrades channel also and a “pump” channel with traders chasing breakout alts. Easy to try to make couple percent a day if day trading is your style. Safe and don’t sleep on open positions.
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