Hey, traders!
It’s common knowledge that you should buy low and sell high… but it’s often hard to tell when exactly those lows and highs are.
Sometimes, however, those signals are pretty clear. I’ve been talking about Bitcoin’s rise to $11,500 for a few weeks now, and so far, my ideas have been holding up. (Want to test them? Just hit play.) The current price slump might have given jitters to some investors, but not me - everything is playing right on cue.
What’s $7,500 got to do with it? The weekly chart shows the Bitcoin price in more or less a holding pattern, staying in the $7,200 to $8,100 range, with the price currently a little over $7,500.
Is it cheap? Assuming my forecast is correct, the uptrend will soon resume, meaning that buying in now represents a fantastic opportunity to make out like a fox in the henhouse as the price ticks up to that magic $10K, and $11.5K beyond it.
What if whatever’s driving the rally slips? There’s always a risk involved in any strategy, but increasing institutional confidence in Bitcoin, as shown by record volumes in futures trading, makes this seem like a long-term trend instead of a short-term boost.
I think that despite some doom and gloom, Bitcoin’s current correction was well expected, and doesn’t show any signs of rapidly crashing. Instead, the current chart is pretty stable, showing that the price is condensing. Once it does, we fully expect the price to start moving in line with my prior expectations and appreciate rather rapidly.
Today the following signal is active:
- Buy Bitcoin in at $7,500
- Stop-Loss: $6,300 - the next significant support level
- Take-Profit: $11,500 - the next significant resistance level
- Forecasted P&L: +$40,000 or +530%, calculated per 1 Lot with 10x leverage
- Risk/Reward Ratio: 3.4x
If you agree then Like this post!
This will be the best feedback and encouragement for me!
To your trading success,
Monfex
It’s common knowledge that you should buy low and sell high… but it’s often hard to tell when exactly those lows and highs are.
Sometimes, however, those signals are pretty clear. I’ve been talking about Bitcoin’s rise to $11,500 for a few weeks now, and so far, my ideas have been holding up. (Want to test them? Just hit play.) The current price slump might have given jitters to some investors, but not me - everything is playing right on cue.
What’s $7,500 got to do with it? The weekly chart shows the Bitcoin price in more or less a holding pattern, staying in the $7,200 to $8,100 range, with the price currently a little over $7,500.
Is it cheap? Assuming my forecast is correct, the uptrend will soon resume, meaning that buying in now represents a fantastic opportunity to make out like a fox in the henhouse as the price ticks up to that magic $10K, and $11.5K beyond it.
What if whatever’s driving the rally slips? There’s always a risk involved in any strategy, but increasing institutional confidence in Bitcoin, as shown by record volumes in futures trading, makes this seem like a long-term trend instead of a short-term boost.
I think that despite some doom and gloom, Bitcoin’s current correction was well expected, and doesn’t show any signs of rapidly crashing. Instead, the current chart is pretty stable, showing that the price is condensing. Once it does, we fully expect the price to start moving in line with my prior expectations and appreciate rather rapidly.
Today the following signal is active:
- Buy Bitcoin in at $7,500
- Stop-Loss: $6,300 - the next significant support level
- Take-Profit: $11,500 - the next significant resistance level
- Forecasted P&L: +$40,000 or +530%, calculated per 1 Lot with 10x leverage
- Risk/Reward Ratio: 3.4x
If you agree then Like this post!
This will be the best feedback and encouragement for me!
To your trading success,
Monfex
