After moving up to meet the expected targets on our previous BTCUSD chart, the price is currently consolidating inside a bullish rectangular flag pattern. Price is yet to breakout of the resistance inside the rectangular flag, just only the rejection wick which signals that the breakout is close.
As we all know BTCUSD price move can be way to volatile, a tight stop loss would be used to trade this. Always wait for breakout!
VERDICT:
BUY: $3941
SELL:$4014 up to $4069
STOP LOSS:$3894
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
As we all know BTCUSD price move can be way to volatile, a tight stop loss would be used to trade this. Always wait for breakout!
VERDICT:
BUY: $3941
SELL:$4014 up to $4069
STOP LOSS:$3894
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.