MichaelLe Rossignol

Another opportunity on Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Last month, we talk about the range about to break and advised to go short on a break with a TP at 520$.
It worked perfectly.
Now we are set for another opportunity with a range between 550$ and 600$

Here is my plan:

Trading Plan to Buy:

Condition (When): If it closes over the first resistance(600$) at 605$.
Stop Loss: We exit if the price breaks the upward trendline at 580$.
Take profit: Under the resistance(660$) at 650$.

Risk/Reward Long: 25$ / 45$

Trading Plan to Sell:

Condition (When): If it closes under the first support at 550$.
Stop Loss: We exit if the price goes back into the range at 580$.
Take profit: Before the second major support at 480$.

Risk/Reward Short: 30$ / 80$

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