Bitcoin: Catch the Uptrend in 1H Timeframe
Actualizado
Let's look at the 1H timeframe and try to prepare a trading plan for this market. It can be based on the setup, when the price reverses from SMAs, breaks the local downtrend line and continues the uptrend.
Look at the previous price action at SMA50. The price bounced from SMA, broke the local downtrend line, and continued the uptrend. The same market movement we can expect this time as well.
The price is at SMA50, if the buyers are strong, they will be able to break the local downtrend line, and it will be a buying opportunity. Stop orders should be placed below SMA50 and the local swing low. The profit targets can be placed ta 9800USd and 10 000USD. If the price moves below SMA, we will search for reversal signals from SMA100 and SMA200. It will be the same setup.
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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.
Look at the previous price action at SMA50. The price bounced from SMA, broke the local downtrend line, and continued the uptrend. The same market movement we can expect this time as well.
The price is at SMA50, if the buyers are strong, they will be able to break the local downtrend line, and it will be a buying opportunity. Stop orders should be placed below SMA50 and the local swing low. The profit targets can be placed ta 9800USd and 10 000USD. If the price moves below SMA, we will search for reversal signals from SMA100 and SMA200. It will be the same setup.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
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.
Nota
We have to wait for a possible reversal from SMA200. If the price drops below SMA200, we will think about buying from 9000USD. It will be another trading idea.Nota
The price bounced from SMA200. It gives a possible buying opportunity. The long trade looks like this Nota
If the price breaks the local swing low, the road to 9000USD will be opened. The next buying opportunity will be from this support!Nota
By the way, if we look at the 15m chart, we have a strong bearish trend and a bearish flag. If this chart pattern is confirmed by a breakout below the local support line, it will be another signal supporting the downward movement to 9000USD. If so, we will watch for a possible buying opportunity at 9000USD. 
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