My 8k Short

If you refer to my recent post here it states my thesis on the price action of Bitcoin. For the reasons stated in that post I took a short position on both Ethereum and Bitcoin. This chart is my short on Ethereum. I sized into this trade as I was convinced that we would see lower prices. This could have easily been a 20k trade and unfortunately I did not trade it the best. I was surprised to see how low we went and did not expect to see these levels for a little while. I started shorting around 1k and had an avg. of 1059.76 on my short. I was down initially on my entry and held through as I had strong conviction that we would see ETH weakness based on the price action that was occurring. All and all was a decent trade with a nice gain in roughly two days.

Feel free to leave comments below with questions!

Follow me on Twitter:
cikkis