Bitcoin near major price area - how to trade
Dear traders and followers,
the Bitcoin price confirmed last week a higher low ( Sept. 23) at 10150 $ and is going to test the 11200 $ within this week.
A entry at current price is not worth the risk and we wait for a clear market signal for further actions.
We see two possible movements:
Nr. 1: The price fails to break and close above 11200 $. This would form a double top pattern which is a sell signal. SL above 11300 $. TP 10500 $
Nr. 2: The price break 11200 $ resistance and close above it. Wait for a short term retracement after breakout for good buy entry at 11150 $ -11200 $. SL under 10950 $. TP 12200 $
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the Bitcoin price confirmed last week a higher low ( Sept. 23) at 10150 $ and is going to test the 11200 $ within this week.
A entry at current price is not worth the risk and we wait for a clear market signal for further actions.
We see two possible movements:
Nr. 1: The price fails to break and close above 11200 $. This would form a double top pattern which is a sell signal. SL above 11300 $. TP 10500 $
Nr. 2: The price break 11200 $ resistance and close above it. Wait for a short term retracement after breakout for good buy entry at 11150 $ -11200 $. SL under 10950 $. TP 12200 $
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date.
Thanks for your support !
Trade closed: target reached:
market formed the double top near 10980 $ and started down movement as expected. New update coming soon
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
