How to trade BTC/USD?

How to trade BTC/USD?

Trade ideas

BUY at 4310; TP 4495; SL 4230

SELL at 3940; TP 3775; SL 4000

BTC/USD rebounded from the 200-week MA at 3212. Bitcoin retraced 23.6% of its decline from November highs and may be up for more.

BTCUSDWeekly.png

Daily moving averages are still declining, but the cryptocurrency still has some scope to rise until these lines will provide resistance. On H4, there are already positive signals from MAs, and on H1 there’s a stable uptrend.

BTCUSDH4.png

Given all that, we think that there’s not enough evidence to buy at the support. The sound strategy is to wait for the 4300/4000 range to break and make a trade. You can be sure that you won’t need to wait for long.

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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