Simple technical and price action analysis.
The entire market is in an up trend wright now, and BTC is following the same road.
At this moment there is a rectangle or sideways consolidation that seems to break above. Of course that anything is possible when we speak about BTC, and there are 2 scenarios possible for a break.
a. Aggressive break targeting 22500 and 25000 level
b. A spike in the middle of the channel or under, because BTC likes to haunt for stop loss.
Entry - Aggressive at the current price
SL - Under the channel support level
TP - In the short period BTC might go to 22500 and than 25000
Don't Stumble Trading. Trade Safe!
The entire market is in an up trend wright now, and BTC is following the same road.
At this moment there is a rectangle or sideways consolidation that seems to break above. Of course that anything is possible when we speak about BTC, and there are 2 scenarios possible for a break.
a. Aggressive break targeting 22500 and 25000 level
b. A spike in the middle of the channel or under, because BTC likes to haunt for stop loss.
Entry - Aggressive at the current price
SL - Under the channel support level
TP - In the short period BTC might go to 22500 and than 25000
Don't Stumble Trading. Trade Safe!
Trade active
Trade closed: stop reached
Comment:
If 4h candle is closed under the 20600 level, than there is a possibility of a SELL trade. Pending order is placed.
