Bitcoin Price Action Outlook 14 Dec 2020
Hey! Looking at the btc price action we can notice several shapes which occuring most of the time during a trend move.
I think most important shape here is triangle. This pattern require patience from the players and need to understand it's nature.
First of all all triangle shapes it is a consolidation period. During which, market players taking one side or another. This causing price fluctuations to stay in some range bound before the one side will take the advantage. In some cases price goes in flat range, in some cases with expanding or narrowing.
But in each case for swing trades it is important to take advantage of this shapes and take right decision for the move.
For bitcoin price we can see it sloping in the apex of triangle, but this shape isn't completely finished yet. Seems like it would have go another week or two for sideways near 19600 and 18500 zone (interest zone on the chart). This zone can be used by day traders to get into positions, as well as swing traders to start opening a initial position with slightly higher risk, but this is depends on your strategy.
My strategy is quite simple, I am splitting position size to few orders in the potential entry levels. And making same thing for take profits. Using OCO type of order I can set SL and TP both to the orders. Using this technic with affordable risk makes stable income from trading for nearly 2 year for me personally. But what work for me, doesn't have to work for you. This is quite fine matter... You have to find out what suits you better.
I hope you enjoying your trading and learning.
Best regards,
Artem Shevelev
I think most important shape here is triangle. This pattern require patience from the players and need to understand it's nature.
First of all all triangle shapes it is a consolidation period. During which, market players taking one side or another. This causing price fluctuations to stay in some range bound before the one side will take the advantage. In some cases price goes in flat range, in some cases with expanding or narrowing.
But in each case for swing trades it is important to take advantage of this shapes and take right decision for the move.
For bitcoin price we can see it sloping in the apex of triangle, but this shape isn't completely finished yet. Seems like it would have go another week or two for sideways near 19600 and 18500 zone (interest zone on the chart). This zone can be used by day traders to get into positions, as well as swing traders to start opening a initial position with slightly higher risk, but this is depends on your strategy.
My strategy is quite simple, I am splitting position size to few orders in the potential entry levels. And making same thing for take profits. Using OCO type of order I can set SL and TP both to the orders. Using this technic with affordable risk makes stable income from trading for nearly 2 year for me personally. But what work for me, doesn't have to work for you. This is quite fine matter... You have to find out what suits you better.
I hope you enjoying your trading and learning.
Best regards,
Artem Shevelev
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.