BTC is hovering around 4400-3200 $ for last few months. Considering the last at $3120, price didnot break the low and making higher low with resistance around 4400-4200$, the resistance has been tested 2-3 times which makes the resistance weaker.
Resistance turned weaker and price is making higher low is a bullish sign to break the resistance. So I have 2 trades in visual.
1) Buy now, CMP : target 4400, sl is below the trenline . 5% sl and 7% target. 2) Buy now and wait for the breakout. break of 4400 will take the price to 5000$ and more. sl : 6% and target is 30%. RR is 1:5
Setup is invalid once price breaks the trendline. So play at your risk.
#BTCUSD #BTC #BTCLONG
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It took a month, But Target Hit. Congratulations.
Trade closed: target reached
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Closing this call as of now. We can catch up again.