Daily Bitcoin Analysis_2023-08-19
Short position
After weekly support in 1 hour time frame which is equal to 24885
Risk to reward 1 (23575) is done by closing 50% of the risk-free position
Risk to reward 2 (22450) with 50% profit from the rest of the save position
The profit limit is equal to the next weekly support on the price of 21560
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Long position
After one hour resistance in 1 hour time frame which is equal to 26593
Risk to reward 1 (27418) is done by closing 50% of the risk-free position
Risk to reward 2 (28010) with 50% profit from the rest of the save position
The profit limit is equal to the next daily resistance on the price of 28,850
After weekly support in 1 hour time frame which is equal to 24885
Risk to reward 1 (23575) is done by closing 50% of the risk-free position
Risk to reward 2 (22450) with 50% profit from the rest of the save position
The profit limit is equal to the next weekly support on the price of 21560
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Long position
After one hour resistance in 1 hour time frame which is equal to 26593
Risk to reward 1 (27418) is done by closing 50% of the risk-free position
Risk to reward 2 (28010) with 50% profit from the rest of the save position
The profit limit is equal to the next daily resistance on the price of 28,850