Bitcoin: Trade Opportunities in the 4H Timeframe
Yesterday I wrote about Bitcoin using the 1H chart. How to trade in this timeframe and about the weird manipulated movements you can read in the post from the related ideas.
Today, let's look at the 4H chart as it has interesting signals as well. The price reached SMA200, and we can see an attempt to break this resistance line. If buyers succeed with this task, we will be able to see the continuation of the upward movement to 9500USD. SMA50 and SMA100 act as support lines and they can be used for getting signals for buying and placing stop orders.
If buyers can't move above SMA200, we will be able to see a sideways movement between 9300USD and 9000USD.
For sellers, it is very important to push the price below SMA100 and the local 9125USD support. It will open the road to the strong support at 9000USD. The breakout below this level will give a bearish signal with the target at 8800USD.
How to trade? I would search for buying opportunities from SMAs and 9000USD.
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.
Today, let's look at the 4H chart as it has interesting signals as well. The price reached SMA200, and we can see an attempt to break this resistance line. If buyers succeed with this task, we will be able to see the continuation of the upward movement to 9500USD. SMA50 and SMA100 act as support lines and they can be used for getting signals for buying and placing stop orders.
If buyers can't move above SMA200, we will be able to see a sideways movement between 9300USD and 9000USD.
For sellers, it is very important to push the price below SMA100 and the local 9125USD support. It will open the road to the strong support at 9000USD. The breakout below this level will give a bearish signal with the target at 8800USD.
How to trade? I would search for buying opportunities from SMAs and 9000USD.
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.
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