BTCUSD (BITCOIN)
Objective:
The goal is to take advantage of the Wave 2 correction and prepare for the upward move in Wave 3.
Entry Strategy:
Buy Limit Order: Place a buy limit order at 56,078.55, which is a key support level and likely the end of Wave 2.
Secondary Buy Limit Order: Consider placing a secondary buy limit order at 53,485.95 in case of a deeper correction.
Profit Targets:
Take Profit 1: 59,816.63, which is the first resistance level and a good point to secure partial profits.
Take Profit 2: 69,000.00, a major resistance level where Wave 3 may complete its upward movement.
Extended Target: 80,000.00, which could be the next move if Bitcoin breaks above 69,000.00.
Stop Loss:
Stop Loss: Place a stop loss below 49,351.27, the invalidation level. If the price falls below this level, the wave count is no longer valid.
The goal is to take advantage of the Wave 2 correction and prepare for the upward move in Wave 3.
Entry Strategy:
Buy Limit Order: Place a buy limit order at 56,078.55, which is a key support level and likely the end of Wave 2.
Secondary Buy Limit Order: Consider placing a secondary buy limit order at 53,485.95 in case of a deeper correction.
Profit Targets:
Take Profit 1: 59,816.63, which is the first resistance level and a good point to secure partial profits.
Take Profit 2: 69,000.00, a major resistance level where Wave 3 may complete its upward movement.
Extended Target: 80,000.00, which could be the next move if Bitcoin breaks above 69,000.00.
Stop Loss:
Stop Loss: Place a stop loss below 49,351.27, the invalidation level. If the price falls below this level, the wave count is no longer valid.
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