03.07.23 - 09.07.23
Last week results
Instruments:
The longer the price stays in the channel, the sooner it will start trending. Over the past week, very high volatility within the channel. And making trades on the hourly chart is almost impossible. It remains to wait for the channel break in any direction and build your strategy on this strategy.
▶️The bullish momentum that propelled Bitcoin (BTC) price to a 2023 high over $31,500 on July 6, vanished after investors’ concerns of potential rate hikes resurfaced.
The contraction in Bitcoin price briefly sent BTC below $30,000 and on top of the renewed worries, traders are concerned that Bitcoin miners sending BTC to exchanges could be a sign of an impending sell-off.
▶️ Binance CEO Changpeng Zhao predicts bitcoin bull run.
These week’s key events
The longer the price stays in the channel, the sooner it will start trending. Over the past week, very high volatility within the channel. And making trades on the hourly chart is almost impossible. It remains to wait for the channel break in any direction and build your strategy on this strategy.
▶️The bullish momentum that propelled Bitcoin (BTC) price to a 2023 high over $31,500 on July 6, vanished after investors’ concerns of potential rate hikes resurfaced.
The contraction in Bitcoin price briefly sent BTC below $30,000 and on top of the renewed worries, traders are concerned that Bitcoin miners sending BTC to exchanges could be a sign of an impending sell-off.
▶️ Binance CEO Changpeng Zhao predicts bitcoin bull run.
📈 BTC: Volatility jump
💡 3 reasons to trade BTC now:
🔹 Opportunity to trade to break through the channel
🔹 Very high volatility
🔹 Great Profit/Loss ratio
💡 Technical analysis: A very narrow channel was formed inside the triangle, which doesn’t allow trading inside. This is a great opportunity to trade for a breakout of this channel. At the same time, the size of the stop loss will be minimal, and the ratio of profit to risk is very profitable.
Long Strategy: Open a buy trade if the price rises to $30,485. Set a Stop Loss at $29,925 and a Take Profit at $31,300.
Short Strategy: Open a trade if the price falls to $29,900 and forms a reversal pattern. Place a Stop Loss at $30,500 and a Take Profit at $28,450.
❗️ Use this opportunity to make the right decision.
Exchange BTC
Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.
Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.