Hello partners! Trying to get out of a tough situation again🙂🤷
usdt-m
#BCH/USDT Breakaway from long position, at 597, isolated margin of $5 with 20x leverage. Price went against me, and usually there's no desire to close the position at a loss)))
What do we do?
1. Immediate protection from liquidation (!) Add $6 to the total margin. This will lower the liquidation price to around 545.
2. Average-in stage at 575.3 Place a limit order for long another $5.
3. Don't panic and wait for a technical bounce. Once the averaging-in works, the new breakeven point will be $586.57. Take-profit targets:
Target #1 (Break-even / Small profit):
50% of position at $588.50. This will cover fees and secure a symbolic profit.
Target #2 (Main profit): Close the remaining 50% at $593.50. This level is right before the major seller wall at $594.
Why should this work? RSI factor: On the daily chart, RSI(6) dropped to 25.23. This is an extreme value, after which a corrective rally (bounce) almost always follows. So calmly add $6 USDT margin. Wait for the order execution at $575.30. At $575, there's a wall of 704 BCH, and above it (up to $580) another ~6000 BCH of support. This is the main chance to reduce the average entry price from $597.43 to $586.57.
Waiting))))🤗
$BCH #futuresignal