- BTC/USD (BITCOMP) will possibly reach the $40k resistance level as predicted
- The trading signal provided should last 1-3 weeks with a potential upside of 7.54%
- No major high-impact news on the USD this week so the price will likely remain calm
BTC/USD trading strategy
- Buy/sell asset: Buy BTC/USD
- Entry price: $3,7185
- Stop loss: $3,6272
- Leverage: 1x
- Take profit 1: $3,8000
- Take profit 2: $3,9000
- Take profit 3: $4,0000
- Timeframe: 1-3 weeks
- Maximum profit: 7.5%
- Maximum loss: 2.4%
BTC/USD chart and technical analysis
Bitcoin has made a remarkable recovery in the last couple of months. It rose from $25k to $38k in less than two months. The price will possibly continue its rally in the coming days and weeks until it reaches the $40k major resistance level.
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