Long BTC to Around $48,000
Updated
BTC was up roughly 70% from October 5 to December 5 with the current price action observed within a horizontal trading range. I will be opening a long position on the Spring position around $40,000. If the Spring fails then I will exit the position at a small loss. I think we will observe a sign of strength (SOS) rally that will take the price to around $48,000.
This is not financial advice. I am not your financial advisor. This is my opinion.
This is not financial advice. I am not your financial advisor. This is my opinion.
Trade active
The price action has moved within the trading range as expected, although the price didn’t spend very much time in the lower portion of the trading range. We observed a Spring-like event on Jan 3 and a sign of strength (SOS) bar on Jan 8. This is a live trade. I expect to close the trade around $48,223, which would yield a 19.4% profit on the trade.
Trade closed: target reached
Entry: $40,388Exit: $48,223
P&L: +19.4%
Time to look for the next trade!
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