BTCUSD – The Great Bitcoin Correction
The price of Bitcoin recently began a correction from 9.9k. After failing to gain momentum from its bounces near 8700/8800, Bitcoin has corrected to a low to around 7950. For those of you that follow me on tradingview, I have had pending bids spreading from 7700-8050 for a week now. The last update to the trade entry had buys at around 8350 and selling a portion over 8700/8800 with a stoploss at 8130. This trade was eventually fully stopped out and was covered depending on how much you sold over 8700. BTC has started to hit our bid entry’s under 8k. This gameplan will continue until we need to reanalyze the bullish bias with bitcoin breaking lower than the red zone shown in the chart shown below.