On a daily timeframe
for BTC/USD, technical analysis
tools generate an uptrend signal with the forecast horizon of 2 weeks.
Technical indicators and chart patterns indicate an accelerating trend upwards and there are no signals of a possible trend reversal currently.
Here is your TRADE SIGNAL:
- Buy Bitcoin
- Stop-Loss at $3,900
- Take-Profit at $4,700
- Forecasted P&L: +$500 or +119% per 1 Lot with 10x Leverage
- Risk/Reward Ratio: 1.7x
Stop-loss for a long position should be placed at $3,900. This price level is currently considered to be a significant support. If market price breaks down through $3,900, we expect the medium-term trend to reverse downwards and the price to continue declining.
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This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.