BTC is getting ready for yet another bull run!
On the 4 hour chart you will see BTC starting to close around the 8300 mark. If we can close above 8300 on the 4 hour, then we should see a fairly easy rise to $9,400 with little resistance, namely $9,000 psychological barrier being the only real pause between.
However once we get to $9,400, you should see a strong bounce off that price and back lower to retest $9,000 support, which would be another great short trade back to $9,300. From there is anyone's guess, but we'll most likely see some consolidation and then back up for the grand battle of $10,000.
On the 4 hour chart you will see BTC starting to close around the 8300 mark. If we can close above 8300 on the 4 hour, then we should see a fairly easy rise to $9,400 with little resistance, namely $9,000 psychological barrier being the only real pause between.
However once we get to $9,400, you should see a strong bounce off that price and back lower to retest $9,000 support, which would be another great short trade back to $9,300. From there is anyone's guess, but we'll most likely see some consolidation and then back up for the grand battle of $10,000.
Note
If 8,300 doesn't confirm, it could be a long way down. I would suggest a stop loss you are comfortable with.Note
To clarify, I would not recommend entering the trade until $8,300 close is confirmed on the 4 hour chart. If you choose to enter the trade BEFORE 8,300, I would suggest a stop loss of $7,950
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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.