BITCOIN; CHANGE OF TREND?
Greetings Trading View community!
In the following analysis I will show you different approaches I have arranged within a stock chart market regarding Bitcoin
so you may be able to understand why I operate the way I do and hopefully you can too navigate through it.
As of the beginning of this chart the price meets a constant downfall which gives us no indication to operate safely until
the price given overtakes the 34.000 mark price. It is due to this maneuver we will have to seek a tendency within the time frame of the candles
to allow us understand what the current expansion in its development throughout the risk zone is going to seem like. Just in case the price would continue diminishing over time
we will have to take into consideration what the consequences of this behavior may produce within the 24.000 mark point so it could give us a hint to its development.
Keep in mind Bitcoin is known for its high volatility along all other cryptocurrencies which leaves us behind a huge amount of false breaks and pronounced
streaks on their clandes. If the price neglects the risk zone we should consider different approaches from 44.000 up to 54.000 price mark.
When it comes to SL (Stop Loss) it should not be positioned below the 34.000 mark price due to its tendency to drop down below its current market price.
Warren Buffett: “Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No. 1.”
I hereby declare that the information provided is only for educational purposes and nothing else. Happy tradding!
In the following analysis I will show you different approaches I have arranged within a stock chart market regarding Bitcoin
so you may be able to understand why I operate the way I do and hopefully you can too navigate through it.
As of the beginning of this chart the price meets a constant downfall which gives us no indication to operate safely until
the price given overtakes the 34.000 mark price. It is due to this maneuver we will have to seek a tendency within the time frame of the candles
to allow us understand what the current expansion in its development throughout the risk zone is going to seem like. Just in case the price would continue diminishing over time
we will have to take into consideration what the consequences of this behavior may produce within the 24.000 mark point so it could give us a hint to its development.
Keep in mind Bitcoin is known for its high volatility along all other cryptocurrencies which leaves us behind a huge amount of false breaks and pronounced
streaks on their clandes. If the price neglects the risk zone we should consider different approaches from 44.000 up to 54.000 price mark.
When it comes to SL (Stop Loss) it should not be positioned below the 34.000 mark price due to its tendency to drop down below its current market price.
Warren Buffett: “Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No. 1.”
I hereby declare that the information provided is only for educational purposes and nothing else. Happy tradding!
Note
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