BTC Potential LONG trade
Anticipating the further drop through 29.500 for Bitcoin, this is a potential LONG trade opportunity. I would assess this as MEDIUM risk for now, but that could change depending on the PA after releasing this and fundamentals such as the inflation rate numbers next week!
The Take Profit level on this trade is quite conservative, it could be extended to 30,250 USD.
ENTRY: 28,800
SL: 28,482
TP: 29,537
RR: 2.33
Good to know: If we get a strong bounce off 29,000, this becomes invalid. There might be enough momentum to get this move again from the entry level, but I won't risk it.
Cilinix Crypto
The Take Profit level on this trade is quite conservative, it could be extended to 30,250 USD.
ENTRY: 28,800
SL: 28,482
TP: 29,537
RR: 2.33
Good to know: If we get a strong bounce off 29,000, this becomes invalid. There might be enough momentum to get this move again from the entry level, but I won't risk it.
Cilinix Crypto
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Make sure to check out our YouTube channel for more detailed analysis and education on multiple topics.
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.