Bitcoin breakout trading setup to ride the uptrend to 18000?

In the H4 timeframe, Bitcoin had a climatic up move till 6 Nov 2020 followed by a change of character with increasing of supply, which defined the trading range between 14400–16000. On 13 Nov 2020, Bitcoin had a breakout followed by a pullback tested the resistance-turned-support around 16000. Should this reversal process be successful, a break above the immediate resistance at 16540 should see a speculation up move to test the target at 18000.

Watch the video below (Timestamp starts 3:48) to find out this simple (overlooked by majority traders) yet profitable way to trade the breakout to increase your winning rate:

Below are the key parameters for Bitcoin potential long setup for trading session on 16 Nov 2020.

Entry: long stop order at 16540

Stop loss: 15956

Take profit: 18000

Resources

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