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.
Komen
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New attempt to break 2900.00-3000.00 resistance zone.
Very nice I trust in you ... but can I ask what about ETH/usdt price move up 230.0 and down .. it's very related with bitcoin . Eth can arrive to price 300.0 .. you said this before
DLavrov
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@alaaahmed, Bitcoin pushes other markets - it's standart variant for different financial markets. For example USD pushes other pairs in Forex. As for ETH, this coin have potential for reaching 300.00 and 400.00 levels. Watch for ETH at important resistance levels.
alaaahmed
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@DLavrov, okay .. btc make huge jump from 2250 to 2900 but eth and other market still waiting and watching I can't understand this
shadowforworld
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@alaaahmed, Huge Wall at 232 and BTC not stable fly up\down
1:1 risk to reward? All other things equal doesn't that lose $ over time sheerly in exchange fees? Curious what money management strategy you're using where this makes sense to you.
CovidScamIsAnIQTest
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I always think your stop is way too large though. If the stop is 2200 and the buy order also at 2200, then what is the point of stop out from the previous long? Would you elaborate on the "why"?
DLavrov
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@sifeij, stop orders we must use for exit from trades if the market moves against these trades. Stop orders must be placed below/above swing lows/highs, levels or lines. In such case if Bitcoin drops below 2200.00 it's better to close the long trade. But if the get a reversal signal from 2200.00 level, we should open a new long trade but with stop order below 1850.00 support level. I will write in detailes about stop loss orders in crypto markets.