🔥 Is Bitcoin Finally Breaking Out? High Volatility Signal
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BTC is seeing very start of the day, bring it all the way to the top of the range that we've been trading in for weeks now. Every time we broke above 31k, BTC sold off shortly after, so wait for the 4H candle to close above the range to confirm the break out.
With all the ETF announcments I'm expecting strong volatility. For the best risk-reward I'm looking at a 39k target, would be surprised if we can break above it.
I chose for 39k because it's around the middle of my Elliot Waves analysis range, see below.
Stop below the most recent swing low. For higher risk-reward you could place the stop around 30,5k. For a lower risk trade, consider taking (partial) profits around 33k and 35k.
With all the ETF announcments I'm expecting strong volatility. For the best risk-reward I'm looking at a 39k target, would be surprised if we can break above it.
I chose for 39k because it's around the middle of my Elliot Waves analysis range, see below.
Stop below the most recent swing low. For higher risk-reward you could place the stop around 30,5k. For a lower risk trade, consider taking (partial) profits around 33k and 35k.
Note
Another rejection from the top ~31k resistance. Signal remains in play for the next break out.
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