BTC: LONG from 19500-20000 USD

29 ago 2022

After the previous week’s descend movement Bitcoin (BTCUSD) price stopped at the 19500-20000 USD demand zone.
This is the possible place to make some bounce up.
However, before that we could see another testing of the 19500 support level.

I’m going gradually open LONG position now.
Entry 19500-20000
Take 1 20300
Take 2 21200
Stop loss 19400

Of course, the further Bitcoin price will look after the S&P 500 movements with the start of US trading session at 13:30 UTC.

Ask for more analysis details in comments.

Higher time frame (4h):

29 ago 2022

Trade attivo

What a great move!
The Target 1 has been reached even faster than expected.
Moving Stop Loss to the breakeven zone (around 19900).
Also, Bitcoin looks way more optimistic than S&P500.
So, there are good chances to achieve Target 2 as well.
Fingers crossed!

Chart image link:

29 ago 2022

Commento

Results for Target 1:
Profit +11.6% with x25 leverage in 12 hours

The detailed trading chart is also here

30 ago 2022

Trade chiuso: stop raggiunto

Target 2 wasn't reached and second part of the position was closed in break even.
So, we kept all profit from the Target 1 intact!