BTCUSD - End of Correction? Bull Trap? Opportunity!
Updated
Is this the end of the correction or is this a bull trap? We don't know yet. Nevertheless, it's worth a shot.
Bitcoin is showing new strength by breaking 15000$ resistance level with highly increased volume. This is also the bullish confirmation of a symmetric triangle pattern.
Depending on future movement this could be a short-term trade or the opportunity to build a long-term trade. Because of this I entered at 15000 with 10% of the maximum amount I'm willing to bet on Bitcoin in the long run.
I only consider opening trades that show a risk:reward ratio higher than 2:1.
Time to do some math:
Target: 19000$
Entered at: 15000$
Stop: 13299$
Risk:Reward Ratio: 2.35:1
Good Luck.
Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice. I'm mostly here on tradingview to improve my trading skills. So don't hesitate to give some feedback.
Bitcoin is showing new strength by breaking 15000$ resistance level with highly increased volume. This is also the bullish confirmation of a symmetric triangle pattern.
Depending on future movement this could be a short-term trade or the opportunity to build a long-term trade. Because of this I entered at 15000 with 10% of the maximum amount I'm willing to bet on Bitcoin in the long run.
I only consider opening trades that show a risk:reward ratio higher than 2:1.
Time to do some math:
Target: 19000$
Entered at: 15000$
Stop: 13299$
Risk:Reward Ratio: 2.35:1
Good Luck.
Disclaimer: I'm a relatively unexperienced trader, so don't consider this investment advice. I'm mostly here on tradingview to improve my trading skills. So don't hesitate to give some feedback.
Trade closed: stop reached
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