Bitcoin: Trade Opportunities from the Daily Timeframe
The buyers couldn't push the price above the resistance zone formed by SMA50 and 11 000$ resistance level. We got a reversal with a further downward movement. What's next? I think we should focus on 10 000$ support zone first of all. This support showed how it's important for the market and all parties.
If we talk about possible trade opportunities, based on the current structure and the market conditions, it will be possible to buy from the support. For this, we have to wait for a confirmed reversal signal. Long trades will be opened in the direction of the main bullish trend, after a correction movement. It means the market will have the potential and the space to move toward 12 500$.
I show you just an example of a possible long trade. How the price will move at the support? We don't know right now. That's why we have to wait for the price reversal from 10 000$ as the main term for buying.
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.
If we talk about possible trade opportunities, based on the current structure and the market conditions, it will be possible to buy from the support. For this, we have to wait for a confirmed reversal signal. Long trades will be opened in the direction of the main bullish trend, after a correction movement. It means the market will have the potential and the space to move toward 12 500$.
I show you just an example of a possible long trade. How the price will move at the support? We don't know right now. That's why we have to wait for the price reversal from 10 000$ as the main term for buying.
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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