Bitcoin: Possible Buy Signal from 9000USD
Actualizado
If the market is going to continue the sideways movement between 9000USD and 9500USD, we will be able to buy from the support zone with the profit target at the resistance.
As we can see, there are no strong buyers and sellers in the market. There were several upward and downward movement, but they could not be developed in a new trend. There is no strong fundamental news as well, which could support buyers or sellers. That's why we can think about the sideways movement and trade based on it.
9000USD as a support zone looks solid, and it is the main target for those who short the market with close profit targets. 9000USD as a support zone is good for buyers. You can see how the price bounced from this zone and moved upward in the past.
So, we can wait for a downward movement to 9000USD, the reversal signal from this zone and, as and as a result, the buying opportunity.
Estimated entry and exit points:
Buy above 9050.00
Stop below 8895.00
Profit Target at 9485.00
Risk per trade must be no more than 3-5% from the trading capital.
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.
As we can see, there are no strong buyers and sellers in the market. There were several upward and downward movement, but they could not be developed in a new trend. There is no strong fundamental news as well, which could support buyers or sellers. That's why we can think about the sideways movement and trade based on it.
9000USD as a support zone looks solid, and it is the main target for those who short the market with close profit targets. 9000USD as a support zone is good for buyers. You can see how the price bounced from this zone and moved upward in the past.
So, we can wait for a downward movement to 9000USD, the reversal signal from this zone and, as and as a result, the buying opportunity.
Estimated entry and exit points:
Buy above 9050.00
Stop below 8895.00
Profit Target at 9485.00
Risk per trade must be no more than 3-5% from the trading capital.
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
It is possible to fix a part of the profit and move stop orders to the breakeven.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.