BTC/USD Forecast: long

Here is an analysis on BTC/USD

RECAP: (Previous Analysis)

In our previous analysis BTC/USD was trading at $56,830
We were bullish on the pair and expected it to test resistance @ $58,000
However the pair was limited to $57,200 before falling to lows of $51,000
Triggering our Sell Stop @ $55,000 & Hitting our TP @ $53,000


WHAT TO EXPECT:

Currently @ $52,700
We expect the pair to break above current support/resistance @ $53,000 & test/attempt to break resistance @ $58,000
Failure to break above current resistance might send the pair to lows of $49,000-$47,000
Bullish Harmonic on the 1H chart

OUR POSITIONS:

Buy Stop @: $55,000
Buy Stop TP @: $57,000
Sell Stop @: $51,000
Sell Stop TP@: $49,000

link to previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.