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BTC has bounced off the bottom trend line of this ascending channel which had confluence with horizontal support around 9K.
If it can close 4H above resistance at 9291, then it is likely to head to the next resistance zone around 9500.
If BTC can close above 9500 resistance zone, then the next target is the 9800 resistance zone.
This trade idea has two take profit targets prior to 9500, so that in the event price does not close above 9500 resistance, the trade will still be green!
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Entry: 9291.0
Entry Zone: 9347-9335
T1: 9350
T2: 9435
T3: 9620
T4: 9775.0
Stop: 9137.5
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R:R: 3.15
Risk: 1.65%
Reward: 5.21%
Leverage: 12X
Leveraged Risk: 19.8%
Leveraged Reward: 62.54%
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This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.