Bitcoin: Buying Opportunity for Day Traders
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If we talk about short term trading, we should use 5-15 minute timeframes. In the current situation, when the price of Bitcoin can move in both directions and for buying, we are far from a good entry zone, short term trading can be a workable variant.
Here is an example of a possible long trade that is based on a breakout above SMA100. If the price can move above SMA200 and SMA100, we will be able to talk about an uptrend. This breakout will allow us to catch a possible uptrend at the beginning. Of course, the price can move sideways, and we will get a trade closed by stop. But there is nothing wrong with it.
Buy above 11073.50USD
Stop below 10950.00USD
Profit Target at 11485.00USD
Risk per trade should be no more than 2-3% from the capital. If the price moves in our direction, it will be good to use the trailing stop.
The same idea and the same pattern can be used for short term trading in ETHUSD market as well.
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.
Here is an example of a possible long trade that is based on a breakout above SMA100. If the price can move above SMA200 and SMA100, we will be able to talk about an uptrend. This breakout will allow us to catch a possible uptrend at the beginning. Of course, the price can move sideways, and we will get a trade closed by stop. But there is nothing wrong with it.
Buy above 11073.50USD
Stop below 10950.00USD
Profit Target at 11485.00USD
Risk per trade should be no more than 2-3% from the capital. If the price moves in our direction, it will be good to use the trailing stop.
The same idea and the same pattern can be used for short term trading in ETHUSD market as well.
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.
Nota
So, the price is moving in our direction and we can fix a part of the profit, if there is such an option in your trading plan, and move stop orders to the breakeven below 11120USD. 
Penafian
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