Bitcoin's Next Big Move: Long or Short? Key Levels to Watch
Updated
Hello Traders,
Bitcoin has been moving within an uptrend channel for the past week, forming three continuous bottoms at 54,200, 55,000, and 56,600. This pattern suggests it has been gaining momentum for a significant move expected tomorrow or the day after.
Long Scenario: If Bitcoin succeeds in breaking and closing above 59,200, I will enter a long position targeting 62,200. My stop-loss will be set at a close below 56,600.
Short Scenario: If Bitcoin closes below 56,600, I will enter a short position targeting 51,500. The stop-loss will be set at the close of a 4-hour bar above 59,000.
Happy trading!
BTCUSD
Bitcoin has been moving within an uptrend channel for the past week, forming three continuous bottoms at 54,200, 55,000, and 56,600. This pattern suggests it has been gaining momentum for a significant move expected tomorrow or the day after.
Long Scenario: If Bitcoin succeeds in breaking and closing above 59,200, I will enter a long position targeting 62,200. My stop-loss will be set at a close below 56,600.
Short Scenario: If Bitcoin closes below 56,600, I will enter a short position targeting 51,500. The stop-loss will be set at the close of a 4-hour bar above 59,000.
Happy trading!
BTCUSD Note
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Long Scenario: If Bitcoin succeeds in breaking and closing above 59,200, I will enter a long position targeting 62,200. My stop-loss will be set at a close below 56,600.Note
I am long because of closing H4 & D bar above resistant levelsNote
I set stop level to 58,300Note
I will close the long position and open short position now live price 59750Note
my stop level closing H4 above 60,200Note
Trade active
I am long for BTC from live price 63,500 target level: 67,700
stop level: 58,700
Note
Trade closed manually
I close long position on 64,200
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