BTC/USD Will Start The New Week With A LONG Position

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In this technical analysis on BTC /USD I will continue my view published earlier on the weekend and show you how to enter BTC now for a successful long position.

I suggested to wait for a retracement towards the bottom support line of the channel in my earlier idea. Since this retracement now has indeed happened, we can start our trading positions.

An entry of around $10,800 will give you a LONG possibility directly on the bottom of the channel. This will make for a trade with fantastic risk reward.

I suggest to place the stop loss somewhere below the bottom support line, for instance around $10,600.

For the take profit you can try to place it somewhere near the top resistance line. For instance around $11,600. This should give you the opportunity for a nice and clean trade of about 6.52%.

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- Trading Guru

This post does not provide financial advice. It is for educational purposes only!

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BTC/USD in coming days
my Analysis:
+3 Reply
+2 Reply
You rock, Trading Guru! I think we are going to bounce from previous resistance at 10'600. That's where I'm putting my long:)
+2 Reply
@Julon, If you get filled you're in for a great trade! It's a good level, also close to the .382 fib. Good luck!
+1 Reply
@Julon, Nice! Best wishes for your trades. πŸ™πŸΌπŸ•‰οΈπŸ’š
Good set-up. Well done
+1 Reply
Trading-Guru SynergyCapital
@SynergyCapital, Thanks Synergy. You're doing a great job too recently with your charts!
SynergyCapital Trading-Guru
@Trading-Guru, Thank you :)
I would also like to remind you that I make all of this available completely for free. If you like my work, you can help me out greatly by giving me a thumbs up on this idea
+1 Reply
How would you have charted this? Feel free to post a link to your own idea here as well
+1 Reply
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