Bitcoin: The Long Trade with 12 000USD Target

Bitcoin: The Long Trade with 12 000USD Target

The price reached SMA100 and we got a reversal signal in the direction of the main trend. RSI and Stochastic confirmed the price reversal, and now they are supporting a further upward movement.

I opened a long position using the 15m chart and a trend reversal signal.
Entry point was 11 350USD
Stop was placed at 11 100USD
Profit Target is 11 985USD.

If the price can stay above SMA100, we will be able to see a new attempt to break 12 000USD resistance.

Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.

Published at Wed, 12 Aug 2020 15:31:19 +0000

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