BTCUSD | Perspective for the new week | Follow-up details
It took a whole 3 months for the price to move over 17,000 pips in our direction since my last publication on this pair (see link below for reference purposes); that is approximately 83.7% growth in 3months! And following the sudden loss of $10,000 during last week trading session (7th of Sept 2021 to be precise), the price has remained untypically stable with high hopes of breaking the $46,000 landmark (Key level) in the coming week(s) and this feat (Breakout) could possibly incite a significant rally.
Tendency: Uptrend (Bullish)
Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom)
Observation: i. Since price broke above and retest our Neckline @ $40,000 in August 2021, we have witnessed a 41.65% growth to hit a peak @ $53,000.
ii. The line drawn under pivot lows is a visual representation of increasing demand for BTC and this also reveals the prevailing direction of price action in the last two and a half months.
iii. At the time of writing this report, the price is presently at $45,900 and the current price sharing a confluence with the pre-existing Trendline could be another clue for a rally continuation if the Trendline is not broken to the downside.
iv. At this juncture in the market, we can not ignore the possibility that the Trendline can be broken to the downside and if this happens, I have identified a range around $38,000/42,000 for the opportunity to take advantage of the trend continuation hence patience is key.
v. This been said and considering volatility expectations, breakout/retest of the Key level at $46,000 remains comfortable for me to take a long position on this pair in the coming week... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 18,000 pips.
Risk/Reward: 1:6
Potential Duration: 12 to 25days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Uptrend (Bullish)
Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom)
Observation: i. Since price broke above and retest our Neckline @ $40,000 in August 2021, we have witnessed a 41.65% growth to hit a peak @ $53,000.
ii. The line drawn under pivot lows is a visual representation of increasing demand for BTC and this also reveals the prevailing direction of price action in the last two and a half months.
iii. At the time of writing this report, the price is presently at $45,900 and the current price sharing a confluence with the pre-existing Trendline could be another clue for a rally continuation if the Trendline is not broken to the downside.
iv. At this juncture in the market, we can not ignore the possibility that the Trendline can be broken to the downside and if this happens, I have identified a range around $38,000/42,000 for the opportunity to take advantage of the trend continuation hence patience is key.
v. This been said and considering volatility expectations, breakout/retest of the Key level at $46,000 remains comfortable for me to take a long position on this pair in the coming week... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 18,000 pips.
Risk/Reward: 1:6
Potential Duration: 12 to 25days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
