BTC/USD Forex Signal: Brief Pullback Expected Ahead of Bullish Breakout

Bearish View

  • Sell the BTC/USD pair and set a take-profit at 20,500.
  • Add a stop-loss at 23,000.
  • Timeline: 1 day.

Bullish View

  • Set a buy-stop at 22,800 and a take-profit at 24,000.
  • Add a stop-loss at 21,500.

The BTC/USD price rose to an important resistance level as the mood among investors rose. Bitcoin rose to $22,600, which was the highest level since June. That increase was about 28.50% above the lowest level in June. Other cryptocurrency prices like Ethereum and Ripple rose while the total market cap of all coins jumped to over $1 trillion.

Michael Cooper

Learn More →