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hedgewithcrypto
Jul 17, 2018 2:23 PM

Bitcoin run to $7,000 Long

Bitcoin / DollarBitfinex

Description

There are times when you need to step back and look at the bigger picture. Staring right in front of me on the 1 hour chart is a dirty big bull flag pattern.

For this pattern, I prefer to enter on the break of the flag pole which is Point (B) using a STOP-LIMIT order. It reduces the R/R but there is a good chance of pattern completion.

Profit target is near the $7,000 area with stop below $6,660.

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

Trade closed: target reached

Thats one big green candle
Comments
cryptoraider
good call!
hedgewithcrypto
@cryptoraider, thanks!
LauriElias
Whad'ya think? 7800?
hedgewithcrypto
@LauriElias, $7,600 quite possible, although if Bitcoin goes into a deeper correction then we will have to wait a bit longer.
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