Bitcoin Trading Idea

Bitcoin made a huge jump fromd 2250.00 level and reached the resistance zone between 2900.00-3000.00 level. Your long trades, opened below 2200.00 level, give a good profit. How to manage them, it depends on your money management strategy. You can just close these trades and fix profit. You can close just a part of volume and leave the rest part for long term trading. In spite of MACD confirms the upward movement, probably we'll see a short term retracement to 2600.00 level or MA50. It will be a new reversal zone for further upward movement. RSI is going to confirm price reversal from 2900.00 level. It will give us a confirmation that the market is going to move lower. So, how we should trade this market? We have to wait when price reaches 2600.00 level or MA50. If we get a reversal signal confirmed by a bullish candle and RSI reversal, we'll be able to buy with profit target at 3000.00 level. Stop orders for exit must be placed below 2200.00 level. If the market drops below the possible reversal zone between 2600.00 level and MA50, we'll see downward movement to 2200.00 support level and MA100. This reversal zone also will give us good entry levels for buying.

Yorum:

New attempt to break 2900.00-3000.00 resistance zone.