Bitcoin: Bullish Market and New Trade Opportunities
The price broke the upper line of the triangle and moved above the cloud. It gave us not only a solid bullish signal but also a trend reversal signal. Now we can say that the market became bullish as the price is above the cloud. What's next?
If the price bounced from the cloud, it will be possible to use a reversal signal for buying. We can expect that the market will try to reach 12 500$ and it will be the main target for our long positions. The 2nd entry point can be above the local swing high.
If the price moves below the cloud, we should be ready to see further consolidation or a new downtrend. That's why it makes sense to place stop orders below 11 000$.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounced from the cloud, it will be possible to use a reversal signal for buying. We can expect that the market will try to reach 12 500$ and it will be the main target for our long positions. The 2nd entry point can be above the local swing high.
If the price moves below the cloud, we should be ready to see further consolidation or a new downtrend. That's why it makes sense to place stop orders below 11 000$.
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.
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