Bitcoin: How to Trade in Boring Market

5 thg 12, 2020

The price bounced from SMA50 and moved upward. Will it be a new attempt to reach 20 000$ resistance, or will we see a continuation of the sideways movement? In spite of bullish signals from MACD and RSI, I don’t think the buyers have the power to push the price above 19 425.50$ resistance. I won’t be surprised if the price will continue the sideways movement.

How to trade?
I think short term long and short trades from the borders of the horizontal price channel will make sense. For swing and long term traders, the market doesn't provide interesting trade opportunities.



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.

6 thg 12, 2020

Ghi chú

The price formed a triangle in the 4H timeframe. We can use this pattern and breakout signals for understanding further market movements.

If the price breaks the bottom line, it will be a bearish signal with a target at 18 000$ support.

If the price breaks the upper line of the pattern, it will be a bullish signal with a target at 20 000$.