BITCOIN - Be Ready for Breakout above $14,000!

[Monfex]

Dear trader!

Here is your Bitcoin Price Targets Analysis - the ultimate source of market ideas and trade signals, brought to you by Monfex, that will make you a winning trader.

On the Bitcoin price chart, there is an ascending trend channel being formed on the daily timeframe , which is a powerful trend continuation pattern.

The next significant resistance for Bitcoin is located at $14,000, and this price is a near-term target for traders (resistance is a price in which selling is expected to be sufficient to stop the rise in price).

If the Bitcoin price breaks through and above the $14,000 resistance, it will become support (a change in polarity principle). I believe when the price finally breaks through the $14,000 resistance - the price will surge by a significant amount and will gain momentum. We may achieve the next short-term target at $15,500 soon after the breakthrough.

Active Trade Signal:

- Buy at $10,000
- Take-profit at $15,000
- Stop-loss at $8,000
- Forecasted P&L: $50,000 per 1 lot with 10x leverage
- Risk/reward ratio: 1:2.5 (very attractive)


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