Bitcoin: How to Trade in 1H Timeframe

3 thg 10, 2020

If we look at the 1H chart, we will be able to plan possible long trades for short term trading. The market is bearish and the breakout below the local uptrend line will give a bearish signal. We will be able to see a new downward movement toward 10 400$ support zone. If the price bounces from the support, like it was in the previous time, it will be a new buying opportunity. We will open long trades following the reversal signal confirmed by MACD histogram and RSI. Stop orders for such long trades must be placed below the support and the local swing low. Profit targets should be at 10 650$ and 11 000$ resistance. And of course, we have to think about the proper risk and money management for these trades.



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.