Trade Recommendation: Bitcoin (XBTEUR) | Hacked: Hacking Finance
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Trade Recommendation: Bitcoin (XBTEUR)

Posted on .

Trade Recommendation: Bitcoin (XBTEUR)

Introduction

This article was posted on Monday, 11:16, UTC.

If we look at the 4H chart of Bitcoin, we can see a pennant chart pattern. It’s a continuation pattern and mainly after a breakout of its signal line, a market continues the previous trend. The pennant is formed by support and resistance lines converge towards each other. We have to trade this pattern based on a breakout signal.

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As it’s a continuation pattern we should expect that price moves upward and breaks the resistance line. Entry level for long trades should be above 2790.00 with stop orders below 2710.00 level. Profit target must be near 3000.00 resistance level. If you don’t use leverage, recommended trading volume for this trade is up to 3% from your deposit.

Buy: 2790.00
Stop: 2710.00
Profit Targets: 2980.00

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The trading signal is based on Kraken chart.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Comments
  • user

    AUTHOR bananatrue

    Posted on 12:07 pm August 7, 2017.

    Sorry I’m a newbie but at the moment BTC’s value is around $3250, how is that possibile to buy it @ $2790 if it’s still bullish? Thanks for your predictions anyway, I followed you on ETC and XLM

  • user

    AUTHOR bananatrue

    Posted on 12:15 pm August 7, 2017.

    Sorry I thought you were talking about USD instead of EUR, huge facepalm

  • user

    AUTHOR fermera_dany

    Posted on 1:06 pm August 7, 2017.

    Into the article the number is 2790, into the RECOMMENDATIONS table / tool the number is 2750.

  • View Comments (3) ...
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