XBT Position Update (15/05): Bulls Gaining Some Mana

I'm short with my target and stop orders depicted by the horizontal lines.

This trade is the perfect test in face of adversity. I need to follow my plan. It is hard to see a trade so deep into profits (790% ROI Bitmex) turn back into neutral mode but I guess this is just how the markets work.

Trading on a Daily (and higher timeframe) is very different than day-trading and I need to remember that a valid bear trend will discount "bullish" news. This seems like the case here.

Although #Consensus18 is underway the market is not in pump mode yet and the few bulls who bought in a downtrend, with a downsloping EMA may soon fiind themselves covering their positions.

I expect some kind of FUD and a sharp move down.

Target still at 10:1 risk reward or as I like to call it 10 Elivagör numbers (multiples).

Trade well!
@Bunker-Tanks