Trade of the day August 31st - Bitcoin BTC
Updated
Reasons of Placing the Trade:
Strong Demand Level
Oversold RSI with divergence
Slight Volume Increase
Multiple attempts at the demand level
Setup:
Stop Loss: 30000 pips or 300.0$ per unit @9,200.00
Take Profit 1: 140000 pips or 1400.0$ per unit 11,000.00
Take Profit 2: 250000 pips or 2500.0$ per unit 12,000.0
Reward: 4:1 and 8:1
Strong Demand Level
Oversold RSI with divergence
Slight Volume Increase
Multiple attempts at the demand level
Setup:
Stop Loss: 30000 pips or 300.0$ per unit @9,200.00
Take Profit 1: 140000 pips or 1400.0$ per unit 11,000.00
Take Profit 2: 250000 pips or 2500.0$ per unit 12,000.0
Reward: 4:1 and 8:1
Comment
2:1 reward reached :)Comment
4:1 reward reachedComment
Pullback after the first target nearly reached (supply zone)Comment
Target 1 reached (4:1 reward)Comment
Rejection at target 2, bearish pressureComment
2 Billion dollars worth of bitcoin lost in Mt Gox hack plumbed the trading volume to 83.3% less. Bitcoin follows a triangle scheme with a strong support, with upside opportunities when the stolen units will be recovered as claimed.
Comment
Comment
Investment Opportunity of Bitcoin - Bearish Pressure will pull back prices around 7000.0 (-30% from now) and then by 2023 the cryptocurrency will reach 100000.0 (+1000%)! Comment
correct image
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.