Hello guys, Dexter here with yet another update on BTC in 6 hours timeframe.
For the last 7 days, BTC has been moving slowly, forming small candles and one or two reds and greens in between. The price ranged between $16.4k to $16.9k which is okay and still doing well. This price range has been supporting BTC for quite some time and has recently created another supporting trendline (The yellow dotted line). If BTC can manage to hold this support then we can expect BTC to reach $18k soon. Breaking below the yellow dotted line may indicate a drop close to $15.3k.
Trade Setup: I am doing long on BTC at CMP with SL at $16.2k. The target will be close to $18k. A straight 10% gain if pumped and a 3% loss if it breaks down. Sounds like a good R:R ratio.
Note: Take a trade only if you are confident enough. Not financial advice.
Trade safely.
For the last 7 days, BTC has been moving slowly, forming small candles and one or two reds and greens in between. The price ranged between $16.4k to $16.9k which is okay and still doing well. This price range has been supporting BTC for quite some time and has recently created another supporting trendline (The yellow dotted line). If BTC can manage to hold this support then we can expect BTC to reach $18k soon. Breaking below the yellow dotted line may indicate a drop close to $15.3k.
Trade Setup: I am doing long on BTC at CMP with SL at $16.2k. The target will be close to $18k. A straight 10% gain if pumped and a 3% loss if it breaks down. Sounds like a good R:R ratio.
Note: Take a trade only if you are confident enough. Not financial advice.
Trade safely.
