BTCUSD Breakout Trade Opportunity
Updated
Depending on which side the breakout happens, there is a good opportunity to get into a trade after price breakouts out of this range. Be careful of fakeouts and it is always advisable to wait for at least 1-2 green confirmation candles after breakout for more confidence. Do not forgot the stop loss above or below this pattern depending on the breakout direction.
Just sharing an observation. Personally i think it is going up. Not financial advice and only trade what you can afford to lose. Nothing is ever 100%. Also avoid trading BTCUSD on weekends.
Good luck!
Just sharing an observation. Personally i think it is going up. Not financial advice and only trade what you can afford to lose. Nothing is ever 100%. Also avoid trading BTCUSD on weekends.
Good luck!
Note
A rising wedge pattern has now formed on the 4hrly chart. It don't really matter what pattern it is. The important thing is knowing when to get in a trade to ride through the breakout either way. Best to wait for candle confirmations after breakout.
Related publications
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.