BTCUSD
BItcoin is currently consolidation at a daily support level and the flat Kumo.
The flat Kumo in Ichimoku is generally known to be a very strong level of support or resistance and we can see price action at the flat kumo currently showing good level of support.
The current bullish structure still stands and a new trade opportunity presents itself with a rejection candle at the flat kumo.
To enter the trade we will place pending buy orders at the high of the current rejection candle which is $9260 with a stop loss at $8600
Profit target will be at the next resistance at $11550 and the remaining position can be left for the longer term target of $14480.
Trade:
Pending BUY at: $9260
TP1: $11500
TP2: $14480
Stoploss $8600
BItcoin is currently consolidation at a daily support level and the flat Kumo.
The flat Kumo in Ichimoku is generally known to be a very strong level of support or resistance and we can see price action at the flat kumo currently showing good level of support.
The current bullish structure still stands and a new trade opportunity presents itself with a rejection candle at the flat kumo.
To enter the trade we will place pending buy orders at the high of the current rejection candle which is $9260 with a stop loss at $8600
Profit target will be at the next resistance at $11550 and the remaining position can be left for the longer term target of $14480.
Trade:
Pending BUY at: $9260
TP1: $11500
TP2: $14480
Stoploss $8600