BTCUSD MID-WEEK ANALYSIS UPDATE 08/10/2023
📈 BTC/USD: Short-term Drop with Upside Potential 📉
Recent USD weakness fueled a rise in BTC 🚀. Now, with the Dollar initiating a pullback, I anticipate a short-term drop in BTC/USD. After that, I'm looking for a continuation to target the $31,500 level. Here's what to keep in mind:
- USD Influence: Recent Dollar weakness played a role in BTC's ascent 📉.
- Short-term Drop: Expect a temporary pullback in BTC as the Dollar regains strength 📉.
- Upside Target: The goal is to target $31,500 as the next potential move upward 🚀.
- Risk Management: Set clear stop-loss and take-profit levels to protect your capital ⚖️.
- Technical Analysis: Use technical indicators, like moving averages or RSI, to time your entry and confirm trends 📊.
- Stay Informed: Keep an eye on news and events that could impact both BTC and the USD 🌐.
Remember, this analysis is not financial advice, and all trading carries risks 🚨. Make sure to do your own research and tailor your strategy to your risk tolerance. Good luck with your trading journey! 🍀📈💹
Recent USD weakness fueled a rise in BTC 🚀. Now, with the Dollar initiating a pullback, I anticipate a short-term drop in BTC/USD. After that, I'm looking for a continuation to target the $31,500 level. Here's what to keep in mind:
- USD Influence: Recent Dollar weakness played a role in BTC's ascent 📉.
- Short-term Drop: Expect a temporary pullback in BTC as the Dollar regains strength 📉.
- Upside Target: The goal is to target $31,500 as the next potential move upward 🚀.
- Risk Management: Set clear stop-loss and take-profit levels to protect your capital ⚖️.
- Technical Analysis: Use technical indicators, like moving averages or RSI, to time your entry and confirm trends 📊.
- Stay Informed: Keep an eye on news and events that could impact both BTC and the USD 🌐.
Remember, this analysis is not financial advice, and all trading carries risks 🚨. Make sure to do your own research and tailor your strategy to your risk tolerance. Good luck with your trading journey! 🍀📈💹
Note
BTCUSD ANALYSIS UPDATE 15/10/2023Trade closed: target reached
TP 2 30000 OF Main chart HIT TARGET 31500 HITNote
FULL TARGET REACHEDMARKET WILL EVENTUALLY GO AN TAKE THE HIGHS
Related publications
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.
Related publications
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.