With Bitcoin falling to the March low just above $7300, alts are also pressured. We saw a slight gain in the 3/28 session, but some trades from that session stopped out during early 3/29, so we are starting the 3/29 session with some losses.
*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
There was an execution error where MCO dropped below the stop, at which point I should have put in the limit order at the stop level.
Instead, I did not manage this position and the loss became bigger than initially planned for.
Outside of that, I could have been more conservative because I had assigned a 60-40 chance that Bitcoin was going to fall after holding around $8000 for a couple of sessions.
Now with $7300 being a key level, we might see relief for a couple of sessions. So, again, we should remain relatively aggressive compared to the previous couple of sessions.
BTC/USD hit our add levels around $7650 and $7330, while ETH/USD hit our add level at $405.