Itc breakout in monthly timeframe.
This is triangle pattern breakout, one can keep their stop loss @200 and target @360
so this trade is 1:2 risk reward .
Volume is also good , rsi also giving buy signal same as 2017.
This is only for educational purpose not a financial advice.
If bitcoin re-bounce from trend line it start rally to the all time high.
Three things can happen
1. It will go sideways
2.it will bounce from trend line
3. Won’t respect trend line and go down
One can take trade in case of no 3.
This is only for education purpose only, kindly consult your financial Adviser.
Enter with STOPLOSS if Breakout happens, STOPLOSS as per your risk appetite.
Enter during retracement and trust in your STOPLOSS, never exit in panic and never enter in excitment !
I love drawing patterns as they are the most reliable strategy for intraday, longterm and short term.