BTCUSD has been moving within sideways since the end of last week. This week there will be lack of news. The first significant will be FOMC minutes tomorrow, which will definitely affect the DXY index and bitcoin. So before that time I expect that the sideways dynamic of the asset will remain.
So, nothing to trade? Not really
We may consider entering long positions at a current price with a take profit nearby 0.786 Fibo and a stop loss just below the previous low:
🔼 a market buy order at 108078.50 with
❌a stop loss at 107389.50 and
🤑a take profit at 109176.65
After that I expect the price to rebound from the upper border of the triangle. Maybe will consider another long entry.
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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.