BTC another short term trade opportunity.
Updated
That was an abrupt fall on BTC, but good thing it quickly found a support on the SMA 100 that also coincides with the top of previous consolidations which acts now as a new minor support around $6550. MFI also shows an oversold market in the 1hr chart which gives us additional assurance of the price pulling back up in the next 24hrs.
Targets are around $6700 and $6800 which obviously gives a very low profit of only over 3% but is already a big gain for day traders. Good luck!
Targets are around $6700 and $6800 which obviously gives a very low profit of only over 3% but is already a big gain for day traders. Good luck!
Note
Touched again SMA 100 that acts as support. We want to take a closer monitoring on this support because a breakdown from this could lead to further fall and will invalidate this trade.Note
Target 1 reached.Trade closed: target reached
Was it hit? yep! Target 2 reached and that didn't take long. Note
Ok, so this looks more perfect with respect to timeline.
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.