Hii Traders 😊
I hope that all of you doing well
◽ I covered levels for both positional traders or investors and Short term Traders
🛑 Which area is good to accumulate ❓
🛑 What is the Target level ❓
🛑What is the stop loss ❓
◽ Now BITCOIN is at good area to accumulate as much as possible
◽ The support zone (also called demand zone) ie. 44500-45000 This very good buying area ❓
➡️ Well , Let me explain
◽ If you people's see the past 2 months Data in Day time frame chart we can see clearly Bitcon successfully breakout the resistance zone ie. 44000-45000 on 8th Aug
And tested level level of Resistance 49000 and pulled back from there and pervious resistance zone ie. 44000-45000 now acting as support zone
◽ And it is taken support from that level 5 times on 13th Aug , 18th Aug , 7th Sep , 12th Sep , 21 Sep
◽ Those days data clearly showing it taken support from that level and buyers were not ready to give or buyers were in control when ever sellers try to short the market
◽ So the point is can we take trade now or is it good area to accumulate ❓
➡️ Off course yes without doubt
But with stoploss (stop loss is very important why ❓ because it will protect us from major disaster simply it is like wearing condom 😅)
◽ Now point is Where I have to place stop loss ❓
Well, you are right way
➡️ Place your stoploss at 39500-39000 exactly from this zone bitcoin bounce back with strong buy or Bulls were in control where sellers or bears were try to short the market from that level
➡️ If again sellers were aggressive and if they successfully breakdown that support level then it may can retest the major support zone ie. 30000-29500 So placing your stop is must important
(Why it will going to retest that support level ❓ what's the reason ❓ let me know comment section and if you give me 50 reputation and 50 likes I will breakdown the reason behind that in next post 😊 )
🎯 Now the point is placing stoploss is okay
◽what is our 1st Target ❓
➡️ Well , for short term traders
Target 1 will be 48600-49000 (Risk to reward ratio will be around 1:1 not exactly)
◽ 2nd Target ❓
➡️ Target 2 will be 52500-53000 (Risk to reward ratio will be around 1:1.5 not exactly which ever it is good)
◽ for positional traders or investors Stop loss will be same and Target will be 52000-53000 here you can exist your half quantity and Another half quantity u can hold for long term ( Exist half if you feared That. is it go beyond that resistance level )
◽ If you want to know next Target give me 50 reputation and 50 likes I will post regarding on this 😊
🛑Day traders do want to know exact intrady levels then let me know comment section I will definitely Help you guy's
🛑 I hope that it will help a lot
If I'm wrong let me know in comment section I will accept mine fault and try to correct mistake it will helps me lot
🛑 Thanks for reading
If you like it do follow and give reputation and have a nice day 😊
I hope that all of you doing well
◽ I covered levels for both positional traders or investors and Short term Traders
🛑 Which area is good to accumulate ❓
🛑 What is the Target level ❓
🛑What is the stop loss ❓
◽ Now BITCOIN is at good area to accumulate as much as possible
◽ The support zone (also called demand zone) ie. 44500-45000 This very good buying area ❓
➡️ Well , Let me explain
◽ If you people's see the past 2 months Data in Day time frame chart we can see clearly Bitcon successfully breakout the resistance zone ie. 44000-45000 on 8th Aug
And tested level level of Resistance 49000 and pulled back from there and pervious resistance zone ie. 44000-45000 now acting as support zone
◽ And it is taken support from that level 5 times on 13th Aug , 18th Aug , 7th Sep , 12th Sep , 21 Sep
◽ Those days data clearly showing it taken support from that level and buyers were not ready to give or buyers were in control when ever sellers try to short the market
◽ So the point is can we take trade now or is it good area to accumulate ❓
➡️ Off course yes without doubt
But with stoploss (stop loss is very important why ❓ because it will protect us from major disaster simply it is like wearing condom 😅)
◽ Now point is Where I have to place stop loss ❓
Well, you are right way
➡️ Place your stoploss at 39500-39000 exactly from this zone bitcoin bounce back with strong buy or Bulls were in control where sellers or bears were try to short the market from that level
➡️ If again sellers were aggressive and if they successfully breakdown that support level then it may can retest the major support zone ie. 30000-29500 So placing your stop is must important
(Why it will going to retest that support level ❓ what's the reason ❓ let me know comment section and if you give me 50 reputation and 50 likes I will breakdown the reason behind that in next post 😊 )
🎯 Now the point is placing stoploss is okay
◽what is our 1st Target ❓
➡️ Well , for short term traders
Target 1 will be 48600-49000 (Risk to reward ratio will be around 1:1 not exactly)
◽ 2nd Target ❓
➡️ Target 2 will be 52500-53000 (Risk to reward ratio will be around 1:1.5 not exactly which ever it is good)
◽ for positional traders or investors Stop loss will be same and Target will be 52000-53000 here you can exist your half quantity and Another half quantity u can hold for long term ( Exist half if you feared That. is it go beyond that resistance level )
◽ If you want to know next Target give me 50 reputation and 50 likes I will post regarding on this 😊
🛑Day traders do want to know exact intrady levels then let me know comment section I will definitely Help you guy's
🛑 I hope that it will help a lot
If I'm wrong let me know in comment section I will accept mine fault and try to correct mistake it will helps me lot
🛑 Thanks for reading
If you like it do follow and give reputation and have a nice day 😊