BTC breaking out the resistance of triangle for big move
Hey friends hope you are well and welcome to the new update on the Bitcoin (BTC).
Previously we had a nice harmonic trade of BTC:
This time the price action is breaking out resistance of symmetrical triangle on daily time period chart.
On 4-hour chart the price action has been closed above the resistance and also re-tested the resistance as a support. For safer side we can also wait for the daily closing above the resistance.
Sell targets:
The technical sell target as per the symmetrical triangle for this trade is $50800.
Stop loss:
Stop loss is $35500 as it is the recent swing low before the breakout.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Previously we had a nice harmonic trade of BTC:
This time the price action is breaking out resistance of symmetrical triangle on daily time period chart.
On 4-hour chart the price action has been closed above the resistance and also re-tested the resistance as a support. For safer side we can also wait for the daily closing above the resistance.
Sell targets:
The technical sell target as per the symmetrical triangle for this trade is $50800.
Stop loss:
Stop loss is $35500 as it is the recent swing low before the breakout.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.