Bitcoin: The Best Trade Idea for the Week Ahead by Monfex!
Hey, Monfex traders!
In this trade idea, we would like to share with you our best thoughts on where Bitcoin might go during the week ahead, based on our latest technical analysis!
So, without further ado, let’s get straight to the Best Trade Idea for the week ahead by Monfex!
All the major trend indicators signal that the BTC/USD price is growing. The trend is upward.
Momentum indicators signal that the price gains momentum. The uptrend is accelerating.
Analysis of chart patterns indicates there is a strong upward-sloping trend channel. The price is moving precisely within the trendlines of this channel.
There are no signals of a possible trend reversal at this point.
Analysis of support and resistance levels indicate that
- $6,000 is a significant resistance and should be used as a take-profit target
- $5,600 is an intermediate take-profit target for day-traders
- $4,950 is the short-term support and should be used as a stop-loss and reverse price
Our current recommendation for BTC/USD is strong BUY:
- Open price: $5,250
- Stop-Loss: $4,950
- Take-Profit: $6,000
- Forecasted P&L: +$750 or +14.3%. You can make +143% per 1 Lot with 10x leverage using the Monfex trading platform.
- Risk/Reward Ratio: 2.5x - exceptionally attractive trade plan.
If you like this analysis and would like to receive future updates - Please, follow Monfex on TradingView!
If you follow us, we 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 us!
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. No representation or warranty is given as to the accuracy, timeliness, or completeness of this information. Consequently, any person acting on it does so entirely at their own risk.
In this trade idea, we would like to share with you our best thoughts on where Bitcoin might go during the week ahead, based on our latest technical analysis!
So, without further ado, let’s get straight to the Best Trade Idea for the week ahead by Monfex!
All the major trend indicators signal that the BTC/USD price is growing. The trend is upward.
Momentum indicators signal that the price gains momentum. The uptrend is accelerating.
Analysis of chart patterns indicates there is a strong upward-sloping trend channel. The price is moving precisely within the trendlines of this channel.
There are no signals of a possible trend reversal at this point.
Analysis of support and resistance levels indicate that
- $6,000 is a significant resistance and should be used as a take-profit target
- $5,600 is an intermediate take-profit target for day-traders
- $4,950 is the short-term support and should be used as a stop-loss and reverse price
Our current recommendation for BTC/USD is strong BUY:
- Open price: $5,250
- Stop-Loss: $4,950
- Take-Profit: $6,000
- Forecasted P&L: +$750 or +14.3%. You can make +143% per 1 Lot with 10x leverage using the Monfex trading platform.
- Risk/Reward Ratio: 2.5x - exceptionally attractive trade plan.
If you like this analysis and would like to receive future updates - Please, follow Monfex on TradingView!
If you follow us, we 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 us!
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. No representation or warranty is given as to the accuracy, timeliness, or completeness of this information. Consequently, any person acting on it does so entirely at their own risk.
Trade stängt: målet nått:
Take-profit reached!
