BTCUSD MID-WEEK ANALYSIS UPDATE 08/10/2023
Updated
📈 BTC/USD: Short-term Drop with Upside Potential 📉
Recent USD weakness fueled a rise in BTC 🚀. Now, with the Dollar initiating a pullback, I anticipate a short-term drop in BTC/USD. After that, I'm looking for a continuation to target the $31,500 level. Here's what to keep in mind:
- USD Influence: Recent Dollar weakness played a role in BTC's ascent 📉.
- Short-term Drop: Expect a temporary pullback in BTC as the Dollar regains strength 📉.
- Upside Target: The goal is to target $31,500 as the next potential move upward 🚀.
- Risk Management: Set clear stop-loss and take-profit levels to protect your capital ⚖️.
- Technical Analysis: Use technical indicators, like moving averages or RSI, to time your entry and confirm trends 📊.
- Stay Informed: Keep an eye on news and events that could impact both BTC and the USD 🌐.
Remember, this analysis is not financial advice, and all trading carries risks 🚨. Make sure to do your own research and tailor your strategy to your risk tolerance. Good luck with your trading journey! 🍀📈💹
Recent USD weakness fueled a rise in BTC 🚀. Now, with the Dollar initiating a pullback, I anticipate a short-term drop in BTC/USD. After that, I'm looking for a continuation to target the $31,500 level. Here's what to keep in mind:
- USD Influence: Recent Dollar weakness played a role in BTC's ascent 📉.
- Short-term Drop: Expect a temporary pullback in BTC as the Dollar regains strength 📉.
- Upside Target: The goal is to target $31,500 as the next potential move upward 🚀.
- Risk Management: Set clear stop-loss and take-profit levels to protect your capital ⚖️.
- Technical Analysis: Use technical indicators, like moving averages or RSI, to time your entry and confirm trends 📊.
- Stay Informed: Keep an eye on news and events that could impact both BTC and the USD 🌐.
Remember, this analysis is not financial advice, and all trading carries risks 🚨. Make sure to do your own research and tailor your strategy to your risk tolerance. Good luck with your trading journey! 🍀📈💹
Note
BTCUSD ANALYSIS UPDATE 15/10/2023Trade closed: target reached
TP 2 30000 OF Main chart HIT TARGET 31500 HITNote
FULL TARGET REACHEDMARKET WILL EVENTUALLY GO AN TAKE THE HIGHS
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