Covered my BTC short from 3 weeks ago, went long at 480.6

11 Sep 2014

Going long at these levels, not the best entry. To continue on from yesterday's bitcoin market update, I think the risk reward ratio here is very good. We've retested the 460 resistance multiple times but we are not breaking it. In addition, if we have more sell-off, alt-coins should be collapsing because they are laggers. However, Litecoin held up so well. I had to cover my litecoin short at a 10% loss, although much smaller position. While I cannot stop the market from going down further, I can control my risk of 15 dollars stop loss.

twitter.com/ibankbitcoins/status/509880080516915200

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