Buy above 9194. Stop loss at 8720. Take profit at 10168.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 9194 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap support) where price is expected to rise to its resistance at 10168 (100% Fibonacci extension, channel resistance). We do have to be cautious of the intermediate resistance at 9726 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochatic (34, 5, 3) still has some upside potential.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 9194 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap support) where price is expected to rise to its resistance at 10168 (100% Fibonacci extension, channel resistance). We do have to be cautious of the intermediate resistance at 9726 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochatic (34, 5, 3) still has some upside potential.