Trade of the day August 31st - Bitcoin BTC

Reasons of Placing the Trade:
Strong Demand Level
Oversold RSI with divergence
Slight Volume Increase
Multiple attempts at the demand level

Setup:
Stop Loss: 30000 pips or 300.0$ per unit @9,200.00
Take Profit 1: 140000 pips or 1400.0$ per unit @11,000.00
Take Profit 2: 250000 pips or 2500.0$ per unit @12,000.0
Reward: 4:1 and 8:1

Kommentera:

2:1 reward reached :)

Kommentera:

4:1 reward reached

Kommentera:

Pullback after the first target nearly reached (supply zone)

Kommentera:

Target 1 reached (4:1 reward)

Kommentera:

Rejection at target 2, bearish pressure

Kommentera:

2 Billion dollars worth of bitcoin lost in Mt Gox hack plumbed the trading volume to 83.3% less. Bitcoin follows a triangle scheme with a strong support, with upside opportunities when the stolen units will be recovered as claimed.

Kommentera:

The average daily traded volume is back to normal, illustrated by aggressive sellers pushing prices lower due to the recent 2 Billion dollars worth of Bitcoin loss. The Support level has been a magnet for a while, and presents an excellent opportunity to buy, aiming 10 - 11 and 13k$ per coin levels.

Kommentera:

Investment Opportunity of Bitcoin - Bearish Pressure will pull back prices around 7000.0 (-30% from now) and then by 2023 the cryptocurrency will reach 100000.0 (+1000%)!

Kommentera:

correct image