Hi, Traders ! Monfex is at your service !
We keep watching Bitcoin's price action inside the contracting triangle with the aim to trade a break-out.
* Bitcoin's price extends within the H1 contracting triangle formation, backed up by the strong Support of $9,300.
* The Trading Mode occurring within the tightest range of some 100 b.p. is approaching the edge of the triangle. So, we expect the game is to be coming to the crunch.
* Our short-term speculative strategy is intact: we want to see the exit direction from the triangle and then trade a break-out.
* Considering $9,300 is the horizontal long-term Support of the larger triangle pattern, the price is heavily supported here, at the moment.
* Should we see an instant continuation of the bullish uptrend, the price could easily reach $12,000 in the mid-term.
* If the Bears manage to push down, we expect BTC to retreat to the next important Support at $8,500 - $8,600.
General trade guideline
Buy if breaks-out above $9,600.
Sell if breaks-out below $9,200.
Buy Target: $10,500 (Nearest) / $12,000 (Mid-term).
Sell Target: $8,500 - $8,600.
Stop-loss: 200 b.p.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
We keep watching Bitcoin's price action inside the contracting triangle with the aim to trade a break-out.
* Bitcoin's price extends within the H1 contracting triangle formation, backed up by the strong Support of $9,300.
* The Trading Mode occurring within the tightest range of some 100 b.p. is approaching the edge of the triangle. So, we expect the game is to be coming to the crunch.
* Our short-term speculative strategy is intact: we want to see the exit direction from the triangle and then trade a break-out.
* Considering $9,300 is the horizontal long-term Support of the larger triangle pattern, the price is heavily supported here, at the moment.
* Should we see an instant continuation of the bullish uptrend, the price could easily reach $12,000 in the mid-term.
* If the Bears manage to push down, we expect BTC to retreat to the next important Support at $8,500 - $8,600.
General trade guideline
Buy if breaks-out above $9,600.
Sell if breaks-out below $9,200.
Buy Target: $10,500 (Nearest) / $12,000 (Mid-term).
Sell Target: $8,500 - $8,600.
Stop-loss: 200 b.p.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
