Bitcoin: Trend-Following Setup and How to Trade
If we look at the 1H chart, we will see a bearish trend. The price is below SMAs with period 100 and 200, and they are moving down.
You can also see possible short setups that are based on the reversals from the MAs and breakouts below the local uptrend lines. It gives a trade opportunity not only in the exact market conditions but in any market and timeframe. So, it makes sense to understand the main principles and use this setup in your own trading.
If the price breaks the local uptrend line, we should be ready to see a new downward movement in the direction of the bearish trend.
The breakout above SMA200 will allow us to think about opening long positions.
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.
You can also see possible short setups that are based on the reversals from the MAs and breakouts below the local uptrend lines. It gives a trade opportunity not only in the exact market conditions but in any market and timeframe. So, it makes sense to understand the main principles and use this setup in your own trading.
If the price breaks the local uptrend line, we should be ready to see a new downward movement in the direction of the bearish trend.
The breakout above SMA200 will allow us to think about opening long positions.
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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