BTC Analysis and Trade IdeaBINANCE:BTCUSDT Analysis 🤔📈
Since November we saw a 50% move on BTC back to 35k. Since then we have been bouncing around between this 45k and 35k level and I believe we have a possible pennant like pattern forming at the bottom of this down trend. A breakout to the upside and I think we can see a run back to at least 52k. There is a lot of resistance here at 52k as well as out 0.5 Fib Retracement level so a move higher is something we would have to consider in the future.
BTC Swing Trade Idea 🔥
I plan to take a Spot or 2-5x entry on BTC at around the 42k level here we have good support from out recent 10% pump yesterday. I plan to put my SL at 3-4.5% which is about the 40k mark. This would give us a RR of 8.3 and 25% gain if we hit our PT at 52k. I plan to scale out at around 10%, 15% and 20%. I will try and update an entry and more information soon!
If anyone has any questions please feel free to DM me!
