BTC/USD – Still Bullish and Heading Towards 25k

• Make sure to take these trades before Tuesday precisely before 5 PM Tokyo time.
• Risk: 0.50% per trade

BTC/USD (Short Position) –

• Open these positions after a bearish price action reversal on hourly time frame, once price touches $25,000 or $24,466.
• Stop Loss: place at $100 and adjust to break even once the trade is at $100 profit by price.
• Take Profit: Remove 50% of trade as profit once the stop loss is adjusted.
• Let the remainder of the trade position run after taking profit.

BTC/USD (Long Position) –

• Open these positions after a bullish price action reversal on hourly time frame, once price touches $21,599 or $23,629.
• Stop Loss: place at $100 and adjust to break even once the trade is at $100 profit by price.
• Take Profit: Remove 50% of trade as profit once the stop loss is adjusted.
• Let the remainder of the trade position run after taking profit.

Bitcoin price apparently reached its six month high yesterday which is giving us a clearer picture for the upcoming trend. By the month end, the pair has become strongly bullish as it has gone up by 40%. This is a strong indication of a long term bullish trend. Hence we suggest letting the trade run for a longer period after you remove 50% of it as profits for now.

There are no important new releases about USD today which is good news for traders as we can proceed without any delays. As of now, the price is likely to head towards 25k which could result in even better trade opportunities for the pair in the coming days.

Forex Forecast:

• EUR/USD: The Euro lost some ground against the USD, following the reports of the U.S. GDP and durable goods orders.
• GBP/USD: The pair remains stuck waiting for policy updates from BoE and FED
• USD/JPY: More sideway action expected as USD moves back and forth against Yen.
• EUR/GBP: The focus shifts to German GDP and the pair displays a responsive buying action.
• XAU/USD: Gold price (XAU/USD) holds lower ground near $1,925 ahead of the key United States data and the Federal Reserve’s (Fed) monetary policy decision.
• AUD/USD: The short-term trend for AUD/USD is upward.
• BTC/USD: Bulls and bears struggle with technical levels as Bitcoin prices move sideways.
• USD/CAD: USD remains weak and drifts lower against strong CAD.
• GBP/CAD: The pair awaits interest rate decisions from BoE.
• USD/CHF: Experts have predicted that USD/CHF is getting closer to the bottom.

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