BTC going Moon - 95K soon
Analysis
BTC exhibits signs of a potential parabolic phase following an upside breakout.
Sustaining above 70k suggests an extremely bullish sentiment.
Positive indicators from open interest and funding further strengthen the bullish outlook.
Trading Strategy with Risk Management
Note: It's advisable to consider the SMA 200 as an additional confirmation for entry points.
Disclaimer: This is not financial advice. Please conduct your own research or consult with a financial advisor before making any investment decisions.
BTC exhibits signs of a potential parabolic phase following an upside breakout.
Sustaining above 70k suggests an extremely bullish sentiment.
Positive indicators from open interest and funding further strengthen the bullish outlook.
Trading Strategy with Risk Management
- This presents an enticing trading opportunity, favoring a long position.
- Consider entering the market within the range of 70300 to 69850, while also considering the SMA 200 for entry point validation.
- With a risk-to-reward ratio of 1:8, it's a compelling opportunity worth taking the risk.
- Implement a stop loss below 67500 to manage risk effectively and limit potential losses.
- Targets for potential profit-taking are identified at 76K, 83K, and 95K.
Note: It's advisable to consider the SMA 200 as an additional confirmation for entry points.
Disclaimer: This is not financial advice. Please conduct your own research or consult with a financial advisor before making any investment decisions.
Trade closed: stop reached