Bitcoin: When to Buy Bitcoin? My Trading Plan!
Diupdate
The price reached the resistance zone, which stopped and reversed the upward movement in the past. You can see the price action at this zone to better understand what we should expect from the market within several days.
If the price bounces from the resistance, we will see a downward movement toward SMA50 and 18500$ support. I would like to use the price reversal in this zone to buy with the profit target at 20 000$ and stop orders below SMA50.
If the price breaks the resistance, 20 000$ will be reached, and we will have to watch for the price action at this resistance. The breakout above 20 000$ will be possible to use for buying. But there is a risk of getting a false breakout. So, be careful!
The price action at 20 000$ will be able to give interesting trade setups in both directions. The exact direction for you should be relevant to your trading style and the whole plan.
How will you trade in this market this week? Any ideas? Share them in comments, please.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounces from the resistance, we will see a downward movement toward SMA50 and 18500$ support. I would like to use the price reversal in this zone to buy with the profit target at 20 000$ and stop orders below SMA50.
If the price breaks the resistance, 20 000$ will be reached, and we will have to watch for the price action at this resistance. The breakout above 20 000$ will be possible to use for buying. But there is a risk of getting a false breakout. So, be careful!
The price action at 20 000$ will be able to give interesting trade setups in both directions. The exact direction for you should be relevant to your trading style and the whole plan.
How will you trade in this market this week? Any ideas? Share them in comments, please.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Catatan
The price broke the local resistance level. We can see a strong upward movement with a clear target at 20 000$. There will be a new attempt to break 20 000$ key resistance and develop a further upward movement. We have to watch for the price action at this zone. The false breakout and the reversal signals will give bearish setups. The breakout will be a good idea for short term and swing trading.
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