Bitcoin: Example of Long Trade with 12000USD Target
What do you think about this trade? I'm not sure that the price will continue the upward movement without retesting 10500USD and 10000USD support zones. But the crypto sometimes can more against the logic, and it is a well-known fact. We have to take into consideration this fact.
In order to catch a new upward movement, we can use pending orders for buying and place them above SMA100 and the local swing highs.
Here is an example of a possible long trade:
Buy above 11330USD
Stop below 10950USD
Profit target at 11985USD
Risk per trade must be no more than 2-5% from the capital.
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.
In order to catch a new upward movement, we can use pending orders for buying and place them above SMA100 and the local swing highs.
Here is an example of a possible long trade:
Buy above 11330USD
Stop below 10950USD
Profit target at 11985USD
Risk per trade must be no more than 2-5% from the capital.
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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