Bitcoin has declined -20% from a high of 
48K and hit strong support at around $38,530. The bears seem to have run out of steam and the bulls are back in control. Bitcoin price has met a minor rejection at around $41,720. I will set a limit buy order one tick above the high of the previous candlestick to catch an upside breakout and set a stop-loss around $39,490 and my first profit target will be around $43,380 with the second take profit target hanging around $46,590.
48K and hit strong support at around $38,530. The bears seem to have run out of steam and the bulls are back in control. Bitcoin price has met a minor rejection at around $41,720. I will set a limit buy order one tick above the high of the previous candlestick to catch an upside breakout and set a stop-loss around $39,490 and my first profit target will be around $43,380 with the second take profit target hanging around $46,590. Trade closed: stop reached
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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.