BITCOIN (Bullish) - Tgt 4480 and 4780 (short-term trade)

2018年11月23日

Position size: 10% of portfolio
Entry price: $4152
Target: 4480 and 4780
Trade type: Relative short term bullish value detected, long side trade
Leverage: -10
Predicted trade duration 2-8 days



A long position from $4200 should provide an opportunity for profit up to the $4500-4800 zone.
Do not let people fool you. The true cost of mining Bitcoin is not anywhere near $6000. It is significantly lower.
Besides, whoever said that mining cost is the floor for relative value? Demand is always the most important factor.
That being said, we could go even lower than $4000, but I do believe we will start building a base between this $3500-$4000 zone.

The $6000 mining cost is for your average Bitcoin miner.
Million $ Bitcoin farms do not run on 10c/kwh electric bills.
These are the funds creating and selling most of the Bitcoin.
They are not running at a loss.

Tight stop losses are not likely to be useful here, as volatility is great. However, that would increase the risk to reward ratio, with a greater probability of being stopped out and missing the trade entirely.

Note: This is a short term trade and anything can happen long-term.