Hello Traders

Here are 2 Long trade ideas for Bitcoin for the coming days / week.

Trade 1)
As you can see BTC is currently trending along a major support line. Yesterday I exited my short position from $47K, turned around and opened a long position at $39.2K.
– 1st let me start by saying I am still Bearish on BTC although I do believe BTC will bounce at this level.
– I believe BTC will bounce off this level and should hit at minimum $42K – $42.3K which is a minor resistance level .
– It’s possible BTC will trend beyond $42.3K but I prefer not to get greedy especially when I am overall Bearish .
– BTC is still within the accumulation zone for a long position so feel free to pick some up around $40K and under.
– Sell at $42k – $42.3K

Trade 2)
– After the first move plays out I believe BTC will trend down to the $36.5K – $37K Major Support Line.
– I would expect another bounce up to the major support turned resistance at $39K – $40.5K (It’s an angled trendline so price varies depending on when it’s hit.
– I will enter a long position at the $37K major support level
– I will sell my position at the major resistance level around $40.5K

That’s it, remember this is not financial advice and I am not a professional so enter trades with caution and have a solid risk management plan in place.

Happy Trading and Good Luck!