BTCUSD: Potential rally ahead
Updated
I think there is a distinct possibility that Bitcoin will rally strongly in the coming weeks.
Entering long now with a wide stop and/or buying any dip as long as above 232.08 will yield a good risk/reward trade if proved to be valid.
Once this monthly bar closes, we will have confirmation of a monthly uptrend, and we already have a weekly signal in place, while price sits above the mode since the lowest low back in January.
Good luck!
Ivan.
Entering long now with a wide stop and/or buying any dip as long as above 232.08 will yield a good risk/reward trade if proved to be valid.
Once this monthly bar closes, we will have confirmation of a monthly uptrend, and we already have a weekly signal in place, while price sits above the mode since the lowest low back in January.
Good luck!
Ivan.
Trade closed: stop reached
Target not hit, profitable long though.
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