BITCOIN: Low-risk/high-reward leveraged trade. 100% potential!

Here is a low risk/high reward trade on #Bitcoin. Bitcoin is once again finding support at the bottom of the ascending channel (as well as the 21 weekly EMA ). The weekly stoch RSI is oversold as well. With stimulus aid back on the table next week, we could see Bitcoin rally back to around $12K, especially after forming a classic accumulation pattern. This is because both the stock market will likely see a pump, as well as precious metals/ Bitcoin due to inflation fears spurred by the stimulus.

I'm entering a 10X leveraged trade here

Entry: $10.8K
Take profit: $12K and above for 100% profits
SL: $9950

If the ascending channel is broken to the downside and/or the SL hits, then all bets are off as the ascending channel bearish downside break will be confirmed.

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Trade active

BTC/USD so far respecting the 21 weekly EMA strongly. Nice 60% gains so far on this leveraged long. The weekly stochastic RSI shows the price can still propel itself to near $12K but will be setting a trailing stop on this to protect already made profits :)

Note

The daily BTC chart shows a bullish crossover between the 21 EMA and the 50 SMA. The .786 Fib is also around $11.8K.

Trade closed: target reached

210% gain on this beautiful long so far. You can set a trailing stop here, close for profit, or wait for the weekly Stoch RSI to turn bearish (although be careful with this one as the Stoch RSI is still a lagging indicator technically).

TheTravel1ngTrader

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TheTravel1ngTrader

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