Bitcoin: How to Trade in 1H Timeframe
已更新
Let's look at the 1H timeframe of BTCUSD. What is going on?
The price is consolidating in the borders of the triangle chart pattern. We can use a downtrend line as the upper border of the triangle and SMA50 as the bottom. Having the exact pattern, we can build several models how the market will move further.
If the price breaks the downtrend line, it will be a bullish signal. Buyers will confirm that they are in control of the market.The nearest target for them will be 9800USD and after that 10 000USD. It is possible to buy following the breakout signal in the 1H chart, but I don't like this trade. The market looks overbought in the higher timeframes, and we can face a correction movement in the nearest future.
If the price beaks SMA50, it will push the price to the support zone formed by SMA100 and 9500USD. Reversal signals from this zone will be interesting for buying with stop orders below 9500USD and the local swing low and the profit target at 9800USD.
If the price breaks 9500USD support, the road will be opened to SMA200 where we will be ale to get a very good buying opportunity based on the reversal signal. The price will continue the sideways movement in the daily chart buy in the hourly we will be able to open long positions in the direction of the local uptrend. We will have good long trades if we talk about risk/reward ration.
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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.
The price is consolidating in the borders of the triangle chart pattern. We can use a downtrend line as the upper border of the triangle and SMA50 as the bottom. Having the exact pattern, we can build several models how the market will move further.
If the price breaks the downtrend line, it will be a bullish signal. Buyers will confirm that they are in control of the market.The nearest target for them will be 9800USD and after that 10 000USD. It is possible to buy following the breakout signal in the 1H chart, but I don't like this trade. The market looks overbought in the higher timeframes, and we can face a correction movement in the nearest future.
If the price beaks SMA50, it will push the price to the support zone formed by SMA100 and 9500USD. Reversal signals from this zone will be interesting for buying with stop orders below 9500USD and the local swing low and the profit target at 9800USD.
If the price breaks 9500USD support, the road will be opened to SMA200 where we will be ale to get a very good buying opportunity based on the reversal signal. The price will continue the sideways movement in the daily chart buy in the hourly we will be able to open long positions in the direction of the local uptrend. We will have good long trades if we talk about risk/reward ration.
If you like this post, please support it by smashing the LIKE button. If you don't like this post and my work, share your feedback in comments! Have a nice weekend!
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.
註釋
The price broke the downtrend line and reached profit targets at 9800USD and 10000USD. That trade did not look like the best one but thanks to the pump. How to catch such movements? We can use pending orders above the key lines and levels. In this case, we could place a pending order for buy above the local swing high and the downtrend line. Stop orders we could place below SMA100 and the support.Such setup, which I described in the initial post, can be used in any trend markets and any timeframes.
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