Bitcoin long opportunity
Updated
Bitcoin price fell from 11,217 to 9,616 However, price bounced strongly from days low to 10,281
The support line that broke at 10,000 is once again building up allowing opening long trades.
This, however may not be the end of correction, so use tight stop loss and watch price action carefully.
The support line that broke at 10,000 is once again building up allowing opening long trades.
This, however may not be the end of correction, so use tight stop loss and watch price action carefully.
Trade active
10,049Note
Price fell below our buy price. I'm using a tight stop loss as it may very well be a bull trap. Stop loss active at 9,949
Trade closed: stop reached
Note
Even though this trade is closed due to tight stop loss trigger, we can see that the price is clearly moving the upward direction. Just a word of caution, it's not a good time to go short :)
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.