Monday, November 4 , 2024, here is a Bitcoin trading setup
As of November 4, 2024, Bitcoin is trading around $69,530. For intraday trading, consider the following strategy:
Buy Position:
Entry Point: If Bitcoin rises above $70,000, indicating bullish momentum.
Target: $71,000, aligning with recent resistance levels.
Stop-Loss: $69,000, to limit potential losses if the price reverses.
Sell Position:
Entry Point: If Bitcoin falls below $69,000, suggesting bearish momentum.
Target: $68,000, near recent support levels.
Stop-Loss: $70,000, to protect against unexpected upward movements.
These levels are based on recent price data and technical analysis. Always use appropriate risk management strategies and stay updated with market news, as cryptocurrency markets are highly volatile.
Buy Position:
Entry Point: If Bitcoin rises above $70,000, indicating bullish momentum.
Target: $71,000, aligning with recent resistance levels.
Stop-Loss: $69,000, to limit potential losses if the price reverses.
Sell Position:
Entry Point: If Bitcoin falls below $69,000, suggesting bearish momentum.
Target: $68,000, near recent support levels.
Stop-Loss: $70,000, to protect against unexpected upward movements.
These levels are based on recent price data and technical analysis. Always use appropriate risk management strategies and stay updated with market news, as cryptocurrency markets are highly volatile.
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