Bitcoin: Long Trades at 11 500USD Support
Updated
Here is my trade. The price gave a reversal setup at 11 500USD support zone. RSI is going to confirm the price reversal. The same goes for MACD histogram. The reversal candlestick pattern below the bottom band gives another bullish signal.
Buy above 11 580USD
Stop below 11 495USD
Profit Target at 11 795USD.
Risk per trade is no more than 3% of the capital.
If the price tries to break 11 500USD one more time, there will be a new trade opportunity.
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.
Buy above 11 580USD
Stop below 11 495USD
Profit Target at 11 795USD.
Risk per trade is no more than 3% of the capital.
If the price tries to break 11 500USD one more time, there will be a new trade opportunity.
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.
Note
Stop was reached, but the price is going to give another buying opportunity at 11 400USD.Note
By the way, it is a good example of why traders must use stop orders.
Disclaimer
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