Bitcoin: How to Trade in Bullish Market
The price is close to our profit target. We can fix the main part of the profit and move the stop to the breakeven. If you have no ideas what I'm talking about, please read this post.
So, the price is not far from the local resistance zone, what's next?
It will be logical if the price bounces from the resistance and we see a pullback toward SMA50. The price reversal from SMA50, or from SMA20 as a variant, it will give us a new bullish signal. We will be able to open new long positions in the direction of the main uptrend. The breakout above the resistance will confirm the strength of the bulls.
If the price retest the broken resistance and we will get a new reversal, it will be another buying opportunity. The next target for the bulls will be 12 000$ resistance.
If the price breaks SMA50, we should be ready to see the further sideways movement between 11 250$ and 11 726$ borders of the price channel.
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.
So, the price is not far from the local resistance zone, what's next?
It will be logical if the price bounces from the resistance and we see a pullback toward SMA50. The price reversal from SMA50, or from SMA20 as a variant, it will give us a new bullish signal. We will be able to open new long positions in the direction of the main uptrend. The breakout above the resistance will confirm the strength of the bulls.
If the price retest the broken resistance and we will get a new reversal, it will be another buying opportunity. The next target for the bulls will be 12 000$ resistance.
If the price breaks SMA50, we should be ready to see the further sideways movement between 11 250$ and 11 726$ borders of the price channel.
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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