Hi there!
As we know from our previous analysis (see the link below), the prevailing medium-term trend for Bitcoin is upward. As noted there, since the price has broken through and above the $3,950 resistance, we’ve got an uptrend continuation signal. Based on signals from a variety of technical indicators and chart patterns (interpreted in that analysis), I concluded that the Bitcoin price will gain momentum over this week and will rise at least to $4,250.
Meanwhile, as can be seen from the hourly chart for BTC/USD, the price is moving slightly downwards, forming a ‘healthy short-term correction’. The Idea is to use this opportunity to enter long (buy) at a bargain price near the bottom trendline of an ascending trend channel, as shown on the chart. It is highly probable that at that point the price will reverse upwards. Thus, you’ll get a higher chance to maximize your gains during the ensuing rally to $4,500.
Even if you’re an active day-trader and not interested in medium-term trades, this trade provides an excellent opportunity with a take-profit horizon of just one day (as presented on the chart).
Here is the exact signal:
- Buy Bitcoin at $3,930. You can set a Buy-Limit order or use a Market order at $3,930.
- Stop-Loss: $3,900 - the next short-term support level.
- Take-Profit: $3,990 - the next short-term resistance level.
- Forecasted P&L: +$600 or +15% per 1 Lot with 10x Leverage
- Risk/Reward Ratio: 2x
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals. This will allow you to stay on top of the current Bitcoin trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
As we know from our previous analysis (see the link below), the prevailing medium-term trend for Bitcoin is upward. As noted there, since the price has broken through and above the $3,950 resistance, we’ve got an uptrend continuation signal. Based on signals from a variety of technical indicators and chart patterns (interpreted in that analysis), I concluded that the Bitcoin price will gain momentum over this week and will rise at least to $4,250.
Meanwhile, as can be seen from the hourly chart for BTC/USD, the price is moving slightly downwards, forming a ‘healthy short-term correction’. The Idea is to use this opportunity to enter long (buy) at a bargain price near the bottom trendline of an ascending trend channel, as shown on the chart. It is highly probable that at that point the price will reverse upwards. Thus, you’ll get a higher chance to maximize your gains during the ensuing rally to $4,500.
Even if you’re an active day-trader and not interested in medium-term trades, this trade provides an excellent opportunity with a take-profit horizon of just one day (as presented on the chart).
Here is the exact signal:
- Buy Bitcoin at $3,930. You can set a Buy-Limit order or use a Market order at $3,930.
- Stop-Loss: $3,900 - the next short-term support level.
- Take-Profit: $3,990 - the next short-term resistance level.
- Forecasted P&L: +$600 or +15% per 1 Lot with 10x Leverage
- Risk/Reward Ratio: 2x
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals. This will allow you to stay on top of the current Bitcoin trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
Trade active:
Hello, Traders!
The idea is ACTIVE and I expect a strong rally UPWARDS to begin either today or tomorrow!
The chart pattern you’re seeing below is clearly indicating that the medium-term trend is UP and the breakout above the $4,000 resistance is very, very probable. The take-profit should be set at $4,500.
Both chart patterns - an ascending triangle and an ascending trend channel - are psychologically strong formations, which are generating a strong bullish signal. I expect the breakout above the $4,000 resistance to give new momentum to BTC/USD over the week and cause a new rally to $4,500 or even higher.
Keep holding a long position in BTC/USD and stay tuned!
To your trading success,
Monfex!
The idea is ACTIVE and I expect a strong rally UPWARDS to begin either today or tomorrow!
The chart pattern you’re seeing below is clearly indicating that the medium-term trend is UP and the breakout above the $4,000 resistance is very, very probable. The take-profit should be set at $4,500.
Both chart patterns - an ascending triangle and an ascending trend channel - are psychologically strong formations, which are generating a strong bullish signal. I expect the breakout above the $4,000 resistance to give new momentum to BTC/USD over the week and cause a new rally to $4,500 or even higher.
Keep holding a long position in BTC/USD and stay tuned!
To your trading success,
Monfex!
