There is an ascending trend channel being formed on BTC/USD M15, which is an uptrend continuation type of pattern.
An uptrend for Bitcoin is when the price goes to higher highs and higher lows.
As the BTC moves up in price, each subsequent new high is higher than the prior high, and each time there is a retracement, which is a reversal in the movement of the BTC’s price, it must stop at a higher low than the prior lows in the trend period.
This is what we’re seeing right now on the M15 chart: The pattern can be clearly recognized.
I believe, now is a perfect opportunity to make quick profits from short moves up.
- Watch for a short-term correction to $3,925 and enter LONG (BUY).
- Set Stop-Loss at $3,890
- Set Take-Profit at $4,000
- Forecasted P&L: +$75 or +19% (per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 2.1x
Watch for BUY signal very carefully and don’t miss this signal!
Enter slightly above the lower trendline of the trend channel.
I hope this analysis was useful to you.
If you like it and would like to receive future updates - Please, follow me on TradingView!
If you agree, please, Like this idea - This would be the best feedback and encouragement for me!
An uptrend for Bitcoin is when the price goes to higher highs and higher lows.
As the BTC moves up in price, each subsequent new high is higher than the prior high, and each time there is a retracement, which is a reversal in the movement of the BTC’s price, it must stop at a higher low than the prior lows in the trend period.
This is what we’re seeing right now on the M15 chart: The pattern can be clearly recognized.
I believe, now is a perfect opportunity to make quick profits from short moves up.
- Watch for a short-term correction to $3,925 and enter LONG (BUY).
- Set Stop-Loss at $3,890
- Set Take-Profit at $4,000
- Forecasted P&L: +$75 or +19% (per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 2.1x
Watch for BUY signal very carefully and don’t miss this signal!
Enter slightly above the lower trendline of the trend channel.
I hope this analysis was useful to you.
If you like it and would like to receive future updates - Please, follow me on TradingView!
If you agree, please, Like this idea - This would be the best feedback and encouragement for me!
Trade closed: target reached:
This Idea has been closed with profit!
To your trading success,
Monfex
To your trading success,
Monfex
