Hi friends, hope you are well and welcome to the new trade setup of Bitcoin (BTC).
On a weekly time frame chart, the BTC has formed bullish Shark. After the completion of the final leg the priceline moved up again, therefore, we can wait for the priceline to move down in buying zone again and then place buy orders accordingly. There is also very strong support at $41330, therefore the price may start a reversal move above this level.
There is also hidden bullish divergence on the weekly time frame:
Buying and sell targets:
Buy between: $42701 to $36005
Sell between: $48609 to $61939
Stop loss:
The maximum extent of the buying zone $36005 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of up to 72%, and the loss possibility is 16%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
On a weekly time frame chart, the BTC has formed bullish Shark. After the completion of the final leg the priceline moved up again, therefore, we can wait for the priceline to move down in buying zone again and then place buy orders accordingly. There is also very strong support at $41330, therefore the price may start a reversal move above this level.
There is also hidden bullish divergence on the weekly time frame:
Buying and sell targets:
Buy between: $42701 to $36005
Sell between: $48609 to $61939
Stop loss:
The maximum extent of the buying zone $36005 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of up to 72%, and the loss possibility is 16%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.