Introduction
Hello trading-view! I will be doing another bitcoin analysis today, and I'm thinking if there is a breakout from that upper trend line and resistance, there could a pretty substantial rise coming up.
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Technical analysis/trade information
There is a symmetrical triangle pattern that Bitcoin appears to be breaking out of. This opens up lots of opportunities for long entries, with the best one somewhere around 39,000$. My two targets are 42,000$ and 48,200$, and my stop-loss is about 36,450$.
Target 1: 7.84%
Stop-loss: 6.50%
RR: 1.21
Target 2: 23.73%
Stop-loss: 6.50%
RR: 3.65
Pattern: Symmetrical triangle
Why bullish: looks to be breaking out to the upside.
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Final thoughts
Hopefully the trade turns out good and we all make some money on bitcoin. Let's see what happens. Good luck and great trading everyone!
*not financial advice
Hello trading-view! I will be doing another bitcoin analysis today, and I'm thinking if there is a breakout from that upper trend line and resistance, there could a pretty substantial rise coming up.
==============================================================================================
Technical analysis/trade information
There is a symmetrical triangle pattern that Bitcoin appears to be breaking out of. This opens up lots of opportunities for long entries, with the best one somewhere around 39,000$. My two targets are 42,000$ and 48,200$, and my stop-loss is about 36,450$.
Target 1: 7.84%
Stop-loss: 6.50%
RR: 1.21
Target 2: 23.73%
Stop-loss: 6.50%
RR: 3.65
Pattern: Symmetrical triangle
Why bullish: looks to be breaking out to the upside.
==============================================================================================
Final thoughts
Hopefully the trade turns out good and we all make some money on bitcoin. Let's see what happens. Good luck and great trading everyone!
*not financial advice
Dagangan aktif
BTCUSD has broken out of the symmetrical triangle and is heading towards 42,000$. The trade is underway. Let's see what happens.Dagangan aktif
Target 1: reached. We still have target 2, so I will close the trade once/if it is hit.Dagangan ditutup: sasaran tercapai
All targets have been reached! Bitcoin is now at 48,000$.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.