Hi there!
The medium-term trend for BTC/USD is strong UPWARD.
The price is perfectly confined by the trendlines of an ascending trend channel. In addition, there are numerous confirmatory signals from major technical indicators and chart patterns. So, technically, the medium-term trend is upward and there are no indications of a possible trend reversal.
In fact, now is an excellent opportunity to enter LONG, since the price has adjusted and is now being traded near the middle line of an ascending trend channel. The upside potential constitutes 10% over the next week, and up to 19% over the next month. Importantly, you can maximize your potential return on investment by using a conservative amount of leverage. For example, using a 10x leverage at Monfex.com will transform your upside potential from just 19% to 190% for the same amount of the initial investment.
Stop-loss should be set at $4,250 - a previously signifiant resistance level, which has been broken and transformed into a significant support level.
Please, pay attention to the trend channels, presented on the chart, and the indications supporting the trade signals. By following these simple yet professionally drawn chart patterns, you’ll be able to make profits by always following the trend, supported by the technical analysis framework.
So, here is a brief summary of what we’ve just discussed:
- The base-case scenario implies a continuation of an UPWARD TREND
- Enter LONG now (do not wait, since no further downward correction is projected)
- Set a Stop-Loss at $4,250
- Set a Take-Profit at $6,000
- Forecasted P&L: +$950 or +19% (or +190% per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 1.2x - an attractive trade opportunity.
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals.
This will allow you to stay on top of the current Bitcoin trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
Disclaimer
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.
The medium-term trend for BTC/USD is strong UPWARD.
The price is perfectly confined by the trendlines of an ascending trend channel. In addition, there are numerous confirmatory signals from major technical indicators and chart patterns. So, technically, the medium-term trend is upward and there are no indications of a possible trend reversal.
In fact, now is an excellent opportunity to enter LONG, since the price has adjusted and is now being traded near the middle line of an ascending trend channel. The upside potential constitutes 10% over the next week, and up to 19% over the next month. Importantly, you can maximize your potential return on investment by using a conservative amount of leverage. For example, using a 10x leverage at Monfex.com will transform your upside potential from just 19% to 190% for the same amount of the initial investment.
Stop-loss should be set at $4,250 - a previously signifiant resistance level, which has been broken and transformed into a significant support level.
Please, pay attention to the trend channels, presented on the chart, and the indications supporting the trade signals. By following these simple yet professionally drawn chart patterns, you’ll be able to make profits by always following the trend, supported by the technical analysis framework.
So, here is a brief summary of what we’ve just discussed:
- The base-case scenario implies a continuation of an UPWARD TREND
- Enter LONG now (do not wait, since no further downward correction is projected)
- Set a Stop-Loss at $4,250
- Set a Take-Profit at $6,000
- Forecasted P&L: +$950 or +19% (or +190% per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 1.2x - an attractive trade opportunity.
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals.
This will allow you to stay on top of the current Bitcoin trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
Disclaimer
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.
