What a day. Being busy all day, I was able to find some gaps to slide into for trade management. Price action today was mostly sideways with occasional bursts into one direction or the other.
As I complete this review we are already in 3/29 and all I can think is how to structure my trading to revolve around my life and not the other way around. With forex, I still had weekends. But crypto is non-stop! I will revisit this in a future discussion.
So, it was not surprising to see about the same number of winners to losers (4W, 3L). Since our gains are usually larger than our losses, we ended up with an overall profit. It should be noted that some adjustments were made mid-session when a trade has turned bad but has not gone down to stop yet.
*amounts are in satoshis. 100,000,000 satoshis = 1 btc, 1 satoshi = 0.00000001 btc. position size assumed to be 10,000,000 satoshis, or 0.1 btc.
The support/resistance levels for BTC/USD are the same, but those for ETH/USD, and LTC/USD have changed lower. If BTC/USD was the benchmark, I think ETH/USD and LTC/USD have higher beta, and therefore will have a sharper slide.
The market moves fast. In fact, I just checked ETH/USD, and it hit $418, which was around the previous support I suggested. We might indeed see a bounce, but I think there is a significant chance the rally will be brief and price will pull lower towards $400-$405.