After the previous week’s descend movement Bitcoin (BTCUSD) price stopped at the 19500-20000 USD demand zone.
This is the possible place to make some bounce up.
However, before that we could see another testing of the 19500 support level.
I’m going gradually open LONG position now.
Entry 19500-20000
Take 1 20300
Take 2 21200
Stop loss 19400
Of course, the further Bitcoin price will look after the S&P 500 movements with the start of US trading session at 13:30 UTC.
Ask for more analysis details in comments.
Higher time frame (4h):
This is the possible place to make some bounce up.
However, before that we could see another testing of the 19500 support level.
I’m going gradually open LONG position now.
Entry 19500-20000
Take 1 20300
Take 2 21200
Stop loss 19400
Of course, the further Bitcoin price will look after the S&P 500 movements with the start of US trading session at 13:30 UTC.
Ask for more analysis details in comments.
Higher time frame (4h):
Trade active
What a great move!The Target 1 has been reached even faster than expected.
Moving Stop Loss to the breakeven zone (around 19900).
Also, Bitcoin looks way more optimistic than S&P500.
So, there are good chances to achieve Target 2 as well.
Fingers crossed!
Chart image link:
Note
Results for Target 1:Profit +11.6% with x25 leverage in 12 hours
The detailed trading chart is also here
Trade closed: stop reached
Target 2 wasn't reached and second part of the position was closed in break even.So, we kept all profit from the Target 1 intact!
Good luck in trading!
You can find more useful content and trading cases in
Riskoholics Telegram Channel
t.me/riskoholics
You can find more useful content and trading cases in
Riskoholics Telegram Channel
t.me/riskoholics
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.
Good luck in trading!
You can find more useful content and trading cases in
Riskoholics Telegram Channel
t.me/riskoholics
You can find more useful content and trading cases in
Riskoholics Telegram Channel
t.me/riskoholics
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.