Bitcoin: New Trade Opportunities
The price reached resistance. We can fix at least the part of the profit from this trade. What's next?
I don't think that the buyers will break the resistance and stay above 16 000$. I think another pullback toward the uptrend line and a new attempt to break 16 000$ will be a better idea.
We have to watch for the price action at the resistance and the uptrend line. The market will be able to provide us trade opportunities.
How to trade?
I would use a reversal signal from the uptrend line for buying. If the price breaks 16 000$ and retests this zone as new support, it will be possible to open long positions as well.
Shorting from 16 000$ with the target at the uptrend line is possible, but I wouldn't say I like this idea. Shorting crypto will give you additional risk. It will be better to wait for bullish signals and buy.
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.
I don't think that the buyers will break the resistance and stay above 16 000$. I think another pullback toward the uptrend line and a new attempt to break 16 000$ will be a better idea.
We have to watch for the price action at the resistance and the uptrend line. The market will be able to provide us trade opportunities.
How to trade?
I would use a reversal signal from the uptrend line for buying. If the price breaks 16 000$ and retests this zone as new support, it will be possible to open long positions as well.
Shorting from 16 000$ with the target at the uptrend line is possible, but I wouldn't say I like this idea. Shorting crypto will give you additional risk. It will be better to wait for bullish signals and buy.
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.
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