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

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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