BTC/USD - Long Scalp to 9800 - 62.54% Profit Potential
Happy day traders! Hope everyone is having an incredible day!
BTC has bounced off the bottom trend line of this ascending channel which had confluence with horizontal support around 9K.
If it can close 4H above resistance at 9291, then it is likely to head to the next resistance zone around 9500.
If BTC can close above 9500 resistance zone, then the next target is the 9800 resistance zone.
This trade idea has two take profit targets prior to 9500, so that in the event price does not close above 9500 resistance, the trade will still be green!
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Entry: 9291.0
Entry Zone: 9347-9335
T1: 9350
T2: 9435
T3: 9620
T4: 9775.0
Stop: 9137.5
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R:R: 3.15
Risk: 1.65%
Reward: 5.21%
Leverage: 12X
Leveraged Risk: 19.8%
Leveraged Reward: 62.54%
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Follow this channel for regular crypto day trading technical analysis!
Thank you and have a wonderful day!
---
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
BTC has bounced off the bottom trend line of this ascending channel which had confluence with horizontal support around 9K.
If it can close 4H above resistance at 9291, then it is likely to head to the next resistance zone around 9500.
If BTC can close above 9500 resistance zone, then the next target is the 9800 resistance zone.
This trade idea has two take profit targets prior to 9500, so that in the event price does not close above 9500 resistance, the trade will still be green!
---
Entry: 9291.0
Entry Zone: 9347-9335
T1: 9350
T2: 9435
T3: 9620
T4: 9775.0
Stop: 9137.5
--
R:R: 3.15
Risk: 1.65%
Reward: 5.21%
Leverage: 12X
Leveraged Risk: 19.8%
Leveraged Reward: 62.54%
---
Please leave a like and comment if you find value in this post! It is a really quick and effective way to show your support!
Follow this channel for regular crypto day trading technical analysis!
Thank you and have a wonderful day!
---
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
Comment:
Here was the longer-term trade:
I have redrawn the horizontal trend line in this chart. It cleary shows the bulls have broken through resistance on the lower time frames. If we continue this bullishness on higher time frames, I suspect we are headed to the top of the ascending price channel!
Here is the new chart showing bulls closing smaller time frame candles above prior resistance:
T1: 9350 - HIT!!! (7.62% Gain)
T2: 9435 - HIT!!! (18.6% Gain)
Let's get this crypto!