Bitcoin Monthly Trade setup with Low Risk High Reward
According to the monthly chart of bitcoin it is clearly showing that the price of bitcoin is trying to go to the $ 5,000 level. there is a fresh demand area which i have marked at the start of green zone. positional trader or short term investor can start buying bitcoin at $ 5,000 level & keep a stop loss of below $ 2,900 level. if Bitcoin is reversing from this buying zone then traders can book profit at $ 10,000 level as there it can face resistence. this trade has Reward to risk of more than 2:1. there are some chances that a up trend can start from $ 5,000 level as it is the major support for bitcoin in monthly chart. & bitcoin will be down by 75% from its ATH that will make bitcoin in oversold condition & more fresh buying can come. also if bitcoin is going below $5,000 then it will become expensive for miners to mine bitcoin. this level of $ 5,000 will be key for bitcoin.
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ok i had followed u as well. we'll build great relationship.
yes your research is good. thanks for share with us.
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