Bitcoin profit target reached perfectly once again, prepare for
Buy above 12858. Stop loss at 12348. Take profit at 13748.
Reason for the trading strategy (technically):
Price has reached our selling area and dropped down perfectly to our profit target. We look to play another bounce above 12858 support (ABC Fibonacci extension, horizontal swing low support) towards our resistance target at 13748 (Fibonacci retracement, breakout level).
Stochastic (34,5,3) is seeing major support above 10% where a corresponding bounce could occur.
Reason for the trading strategy (technically):
Price has reached our selling area and dropped down perfectly to our profit target. We look to play another bounce above 12858 support (ABC Fibonacci extension, horizontal swing low support) towards our resistance target at 13748 (Fibonacci retracement, breakout level).
Stochastic (34,5,3) is seeing major support above 10% where a corresponding bounce could occur.