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Sunday, September 27, 2020

BITCOIN: Low-risk/high-reward leveraged trade. 100% potential!

BITCOIN: Low-risk/high-reward leveraged trade. 100% potential!


Here is a low risk/high reward trade on #Bitcoin. Bitcoin is once again finding support at the bottom of the ascending channel (as well as the 21 weekly EMA ). The weekly stoch RSI is oversold as well. With stimulus aid back on the table next week, we could see Bitcoin rally back to around $12K, especially after forming a classic accumulation pattern. This is because both the stock market will likely see a pump, as well as precious metals/ Bitcoin due to inflation fears spurred by the stimulus.

I'm entering a 10X leveraged trade here

Entry: $10.8K
Take profit: $12K and above for 100% profits
SL: $9950

If the ascending channel is broken to the downside and/or the SL hits, then all bets are off as the ascending channel bearish downside break will be confirmed.

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from Trading Ideas
via gqrds

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