BTC/USD: levels for trading
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Trade ideas
SELL 11,250; TP 10,930; SL 11,350
BUY 11,650; TP1 11,900; TP2 12,200; SL 11,590
Last week BTC/USD failed to close at the weekly high in the 12,295 area and ended up near 11,416. On H4, the Bitcoin is capped by the 50-period MA at 11,575. As long as the price remains under that resistance, it may test the 50-day MA at 10,930. This line guards the way to 9,870 (support line, Fibonacci level). The return above 11,600 will open the way up to 11,900 and 12,295. Ultimately we expect BTC to retest 13,100.
