Over the weekend, there was accelerated buying in bitcoin, and it broke through the $45,500 resistance. This week, we watch the $50,000 level as the next physiological level of resistance. We are mainly watching to see if bitcoin can hold up at these current levels.
I am looking for a pullback into the $42,000 - $45,000 support zone to buy. If i see strong selling pressure and prices holding below $39,000 I will stop out of the trade.
First target: 51,000
Risk Reward: 2:1
Second target 59,500
Risk Reward: 4:1
I am looking for a pullback into the $42,000 - $45,000 support zone to buy. If i see strong selling pressure and prices holding below $39,000 I will stop out of the trade.
First target: 51,000
Risk Reward: 2:1
Second target 59,500
Risk Reward: 4:1
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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.