Bitcoin has declined -20% from a high of $48K and hit strong support at around $38,530. The bears seem to have run out of steam and the bulls are back in control. Bitcoin price has met a minor rejection at around $41,720. I will set a limit buy order one tick above the high of the previous candlestick to catch an upside breakout and set a stop-loss around $39,490 and my first profit target will be around $43,380 with the second take profit target hanging around $46,590.
Trade closed: stop reached
