Direct from the desk of Dane Williams,
This is not your average forex broker email.
Unless you’re a trader who’s been living under a rock today, you’d have seen that Bitcoin has broken down through higher time frame support.
Click the link in the paragraph above and check out the daily chart in today’s blog. Those of you who follow it will know what I’m talking about.
But my Inner Circle email is about showing you how to make money from trading around these higher time frame support/resistance zones.
My advice on trading this breakout through support?
Don’t short Bitcoin through your forex broker!
Crypto markets are volatile and lack the liquidity that the forex majors posses and moves like this, especially to the downside, drop through prices like they aren’t even there.
This is because they literally aren’t there.
If there are no orders sitting at a particular price, then the market immediately moves to the next price in order to find an order.
When you’re just below major support zones, nobody has buy orders set and the market just drops through non existent level after level, searching for one to fill.
This is why you get HUGE moves to the downside like this.
As a conservative trader who likes to sell on short term pullbacks, I just don’t get those types of setups in crypto.
Pick your battles.
Shorting Bitcoin through your forex broker isn’t one you’re going to win.
If you’d like to talk more about your individual trading personality and how this effects how you read my analysis, then simply hit reply to this email and get in touch.
I read and reply to everyone inside my Inner Circle who takes the time to chat.
Best of probabilities to you,