Bitcoin: New Trading Signal from Support
The price couldn't stay above 11 493$ support, and we saw a downward movement. What's next?
There is a solid support zone at 11 250$, which can be used with a reversal signal. If the price reaches this zone and we get the price reversal, it will be a signal for buying. You can see the example of such a long trade. Stop orders should be placed below the support and the local swing low. The profit target can be the local market high.
If the price breaks below the support, SMA200 will become the next support. The price reversal from SMA200 will give us a new buying opportunity.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
There is a solid support zone at 11 250$, which can be used with a reversal signal. If the price reaches this zone and we get the price reversal, it will be a signal for buying. You can see the example of such a long trade. Stop orders should be placed below the support and the local swing low. The profit target can be the local market high.
If the price breaks below the support, SMA200 will become the next support. The price reversal from SMA200 will give us a new buying opportunity.
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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