A $139,000 Pump for Bitcoin in the Coming Weeks ?
Currently at $117,800, Bitcoin offers an interesting trading opportunity for the coming weeks. As analyst Axel points out, Bitcoin still has plenty of room before reaching the first euphoria zone, or “extreme optimism.”
This zone is located between $132,000 and $139,000 for Bitcoin, which constitutes a good medium-term target for the coming weeks. “Buying activity is still supported by market participants : they are ready to maintain or increase their positions as long as the price remains above their comfort zone,” writes Axel.
Moreover, more than 1,500 BTC are placed as buy orders at $115,000, offering solid support and a potential bounce zone. Additionally, the price of $114,700 corresponds to the 20-day moving average, an area that increases the chances of a rebound in case of another BTC drop in the coming hours.
A 400% Long Position on Bitcoin to Open Today
BTC could soon bounce back as sellers lose their grip.
A long position to open on BTC :
- Entry price : Between $118,000 and $114,500
- Stop loss : Below $114,000
- Leverage : Between x30 and x20
- Take Profits : First TP at $131,000 and second TP at $135,000
- Potential gains : Approximately 400%
The resistance at $118,000, which now constitutes a POC in lower timeframes, will be worth watching in the coming hours. If BTC maintains above this level, it will target $127,000 in the coming days or next week.
As a reminder, only invest what you can afford to lose, as leveraged trading is riskier than spot buying. The stop loss is the most important element of the trade. Set your leverage so that your liquidation price is around $113,9xx. Then place the amount you wish to invest and launch your long position. Don’t forget to set your take profit levels.
