Swing: Do not get caught by the breakout (03/05/2019)
Bitcoin has exhibit clear bullish signals and has so far traded above 5560 at the time of writing. This level was previously the resistance zone which caused the huge sell down on 20 Nov 2018. We are bullish on Bitcoin but the current price is unattractive from a risk reward stand-point. We will strongly recommend to wait for price at the next support level instead of going long at current market price. Price has also broken 200 EMA and have been holding well above the moving average. The bullish set-up seems legit from a TA point of view with bull candlestick pattern accompanied by increasing volume dated on 2nd and 3rd April 2019.
Trade Set-up:
EP: 5212
SL: 4850
TP: 6430
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade Set-up:
EP: 5212
SL: 4850
TP: 6430
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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