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Trade Recommendation: Bitcoin

The price is going to move above the cloud and break 4400.00 resistance level. Probably if the market can do this, we’ll see further upward movement to 5000.00 level. It’s a new trading opportunity and we can place pending orders for buy above 4400.00 level in order to catch this possible movement. Stop orders must be placed below the local low at 4100.00 level. The main profit target should be at 4900.00 level. This is a short term trade and it will be better to close the profit at the strong resistance level. As for long term trading, we should leave the part of long positions which were opened on lower levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Market: BTCUSD
Buy: 4450.00
Stop: 4100.00
Profit Targets: 4900.00

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