There are many ways we can trade; you just have to choose one of the multiple trading strategies available out there. Many will work; success cannot be measured by the quality, simplicity or complexity of the trading strategy but by how well you execute its rules and how well you are controlling your emotions and managing your mindset.
BitCoin cryptocurrency is not an exception to this rule. The BitCoin analysis can be done in two completely different ways:
Currently, Bitcoin’s price is reacting to a strong monthly demand level located around $4600 price area, it’s been reacting to it for a few months now. I hope all those doing cryptocurrency mining have had some success mining BitCoin 🙂 Cryptocurrency trading? How can we trade BitCoin using supply and demand imbalances as a beginner? No need to learn about the fundamentals. Simple rules will allow you to locate new turning points and imbalances on BitCoin today or on any cryptocurrency.
Where could possible BitCoin price go in the next few weeks? Well, there has been a very strong bullish rally on BitCoin for the last weeks. After a very strong bullish move in BitCoin cryptocurrency, continue buying BitCoin is not a good idea; we expect a much bigger retracement since BitCoin is too expensive to buy now. Could it continue rallying for more weeks? Of course, it could it can possibly do that. Still, as supply and demand traders, we should be waiting for the correction and trade strong imbalances of demand instead of buying BitCoin cryptocurrency after such a strong rally. You would not do that in normal situations when buying a new car or house. Why should you buy BitCoin cryptocurrency today when you know it’s just far too expensive? It’s illogical.
Please join our trading community if you want to learn a cryptocurrency trading strategy on how to trade BitCoin strategy. Learn how to trade BitCoin using technical analysis and supply and demand imbalances.
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