The bitcoin price on the daily timeframe shows the end of retracement and the prices are getting ready for the continuation of the bearish trend that had started earlier this year at February from the prices of 64800 USD for each bitcoin and went all the way down till we saw numbers of 29000 USD for a bitcoin at middle jun2021 and then we all saw the bullish retracement and we all said there will be an end for that correction and continuation of the bearish south trend and we also might see a new lows this year or the next year
and from that perspective can position our sell orders at the numbers of 59800 and 60700
we will have fixed stop loss above the highest high plus the average range of bitcoin at the numbers of 67600
and as you can see on the chart our first target will be at 50700 followed by 39776 our second target
and from that area we can watch the price action of the bitcoin and how it will react after reaching the last low the price made before the end of the correction
NOTICE : this is swing trade so its gonna take time
please use strict money management
don't move or remove your stop loss
Trade safe
and from that perspective can position our sell orders at the numbers of 59800 and 60700
we will have fixed stop loss above the highest high plus the average range of bitcoin at the numbers of 67600
and as you can see on the chart our first target will be at 50700 followed by 39776 our second target
and from that area we can watch the price action of the bitcoin and how it will react after reaching the last low the price made before the end of the correction
NOTICE : this is swing trade so its gonna take time
please use strict money management
don't move or remove your stop loss
Trade safe
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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.