Bitcoin's Next Move: Key Levels to Watch and Strategy Insights
We anticipate Bitcoin to rise from $93,526.2 to $111,949.0 based on volume analysis
Plan Based on Closing Near the Target Level
Closing Above the Target ($111,949.0):
If a daily candle closes above this level, further upside is expected, with the price continuing to rise by the same percentage increase as the current move.
We will update the targets and strategy accordingly if this scenario unfolds.
Closing Below the Target ($111,949.0):
If a daily candle closes below this level, the price is likely to retest the target level.
In this case, it is advisable to exit the position to avoid risks associated with increased market volatility.
Risk Management and Trade Discipline
Stop Loss:
Always adhere to the predefined stop-loss level, regardless of the scenario, to protect your capital and avoid significant losses.
Trade Management:
Consider splitting the target into partial levels to secure profits incrementally during the move.
Use support and resistance zones as additional confirmation signals to manage risk.
Conclusion:
The current price action suggests a strong opportunity for an upward move, but the success of the plan depends on closing near the specified targets. Strict discipline and effective risk management are crucial for achieving positive results in this trade.
Plan Based on Closing Near the Target Level
Closing Above the Target ($111,949.0):
If a daily candle closes above this level, further upside is expected, with the price continuing to rise by the same percentage increase as the current move.
We will update the targets and strategy accordingly if this scenario unfolds.
Closing Below the Target ($111,949.0):
If a daily candle closes below this level, the price is likely to retest the target level.
In this case, it is advisable to exit the position to avoid risks associated with increased market volatility.
Risk Management and Trade Discipline
Stop Loss:
Always adhere to the predefined stop-loss level, regardless of the scenario, to protect your capital and avoid significant losses.
Trade Management:
Consider splitting the target into partial levels to secure profits incrementally during the move.
Use support and resistance zones as additional confirmation signals to manage risk.
Conclusion:
The current price action suggests a strong opportunity for an upward move, but the success of the plan depends on closing near the specified targets. Strict discipline and effective risk management are crucial for achieving positive results in this trade.
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.
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.