Started a short bitcoin position at 571

Symbol
Short BTC
Last
-
Entry
571
Size
100%
Exit
459.5
P/L
19.5%

  *check out the bitcoin trading guide and reference for what they mean

Entry Update: 

Market looks very weak with alt coins making new 6 month lows. This is also teh 4th time bitcoin test the 575 support area. Market is down, shorting and folloiwng the trend. My stop is above 585 which is a congested area. If bidders step in and go above this price, I am wrong. Therefore, the risk/reward ratio here is pretty good.

My twitter post:

ibankbitcoins

Exit Update: 

Bitcoin has hit target 450, I made a post about it on reddit. I covered at 459.5.

http://www.reddit.com/r/BitcoinMarkets/comments/2djvpm/daily_discussion_thursday_august_14_2014_part_2/cjq91o5

Twitter:

Exit Date: 
8-18-2014