Bitcoin is trying to recover but bears can wait
The sharp drop in the Bitcoin exchange rate could not end without consequences. The bulls are still trying to fix the situation, but their attempts are getting weaker. The price was not able to return even half of the lost positions. Such strong trends do not reverse immediately. The price can still move downward by inertia for some time. We will enter a short position if the price breaks down the flat support level of 47000. We placed a Take Profit order with a target of 200000 pips at the next flat level 45000.
Order Type: Pending Order - Sell Stop
Entry Price at 47000.00
Take Profit at 45000.00
Pips Earning: 200000
Forex trade strategy for major currency pairs:
EURUSD sell at the price of 1.1260
USDJPY buy at the price of 114.00
GBPUSD sell at the price of 1.3160
USDCHF buy at the price of 0.9265
Cryptocurrency trading recommendation
The profit can be $2000.00 if the trading volume of 1 Contract.