Long on BTC

2 באוג׳ 2022

The screen shows two different time frames on BTC: 2H time frame in the top and daily in the bottom. The 2H time frame BTC graph shows a bullish set-up for a possible ascending wedge. Moreover, price action is trending on 200MA support almost in line with the 0.38 Fibonacci Retracement Level. For this reasons we set a entry price at the Fibonacci support at $22484 followed up by bullish reversal with target profit at $24296. Extending the graph on the daily, we noticed BTC price, after 4 lasting months, broke through the 50MA twice and now is testing that again suggesting more up-trust in bullish direction.

Entry price: $22484
Target price: $24296
Return: 8%
*use a 5 to 10X Leverage