RISING: After a pullback, Bitcoin is continuing with trend

Dear trader!  

Here is the quick Monfex market analysis update.  

Trend analysis 
The pullback we mentioned in Monfex`s last TA came and now Bitcoin is now reestablishing a past trend. With a strong rejection at $12,000 the price has dropped close to its support at ~$11,200.  

The RSI showed  Bitcoin hovering in the overbought range for about 2 days, it has since corrected and is now building some slight momentum back upwards.  

What To Consider 
If the price can crack $11,700 while on the upward trend, then there is room past $12,000. If the price hits a low of under $11,400 then we can see a new trending forming downwards. 

Active Trade Signal: 
- Buy at $11,750  
- Stop-loss at $11,400  
- Take-profit at $12,300 
- Risk/reward ratio: 1:2 (attractive)  

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