We purchased 3 units of risk at a price of 10750 and our intent was to sell 1/3 of that position at 11825. Overnight we got our price and sold 1/3 for a gain of 10%.
Bitcoin currently looks like it is in a position to sustain a bigger rally (while still below a decl 50 DMA)
Here is the plan, if BTC can trade back above 12000 then we want to add 13 risk units bringing our total to 15. At that point our cost basis will be 11,837. We will use a stop of 11300 on half the position and 10750 on the balance. We will look to sell HALF of the position at 13000 and will adjust the plan as price action dictates.
