FX.co ★ BTCUSD Potential For Bullish Rise to previous swing high

Description :

Looking at the H4 chart, my overall bias for BTCUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.

Looking for a pullback buy entry at 23180.00, where the overlap support and 61.8% Fibonacci line is. Stop loss will be at 22137.60, slightly below where the intermediary support is. Take profit will be at 25212.00, where the previous swing high was.

Trading Recommendation

Entry: 23180.00

Reason for Entry: Retest overlap support and 61,8% Fibonacci line

Take Profit:25212.00

Reason for Take Profit: Previous swing high

Stop Loss: 22137.60

Reason for Stop Loss:

Slightly below where the intermediary support