Bitcoin: trade on the breakout

Bitcoin: trade on the breakout

Trade ideas

BUY 3550; TP 3700; SL 3500

SELL 3400; TP1 3280; TP2 3150; SL 3450

Bitcoin is consolidating within a symmetric triangle. A boost in volatility is about to take place.

BTC/USD is oversold on large timeframes. However, it still has scope to visit the 200-week MA at 3100. We propose pending orders on the break of the triangle. The highs of this week and the lows of the last week will be the respective targets.

BTCUSDH4.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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