05.06.23 - 11.06.23
Last week results
Instruments:
Flat movement continues on bitcoin. This is accompanied by a large number of false breakouts. It would be reasonable to trade on price reversals and at different timeframes, where you can track the trend.
▶️ Bitcoin mining firms keep building despite BTC mining profitability slump
▶️ TRON Blockchain Sets New Record with 10.9 M Daily Transactions
▶️ Fed board issues order to Silvergate Bank as part of self-liquidation plan
These week’s key events
Flat movement continues on bitcoin. This is accompanied by a large number of false breakouts. It would be reasonable to trade on price reversals and at different timeframes, where you can track the trend.
▶️ Bitcoin mining firms keep building despite BTC mining profitability slump
▶️ TRON Blockchain Sets New Record with 10.9 M Daily Transactions
▶️ Fed board issues order to Silvergate Bank as part of self-liquidation plan
📈 BTC - calmed down
💡 3 reasons to trade BTC now:
🔹 Combining different timeframes to find a trend
🔹 Market condition for short-term transactions (up to 1 hour)
🔹 Much attention on bitcoin from analysts side
💡 Technical analysis: The market is dominated by a large number of false breakouts, after which the transaction ends in a loss. To avoid this, there is one trading option. This is trade within the channel. You can use oscillators and reversal candlestick patterns.
Long Strategy: Open a buy trade if the price falls to $26,840. Set a Stop Loss at $26,620 and a Take Profit at $27,300.
Short Strategy: Open a trade if the price rise to $27,280 and creates a reversal pattern. Place a Stop Loss at $27,510 and a Take Profit at $26,800.
❗️ Use this opportunity to make the right decision.
Exchange BTC
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