There are many ways we can trade, you just have to choose one of the multiple trading strategies available out there. Many of them will work, success cannot be measured by the quality, simplicity or complexity of the trading strategy but how well you execute its rules and how good you are controlling your emotions and managing your mindset.
BitCoin crypto currency is not an exception to this rule. The BitCoin analysis can be done in two completely different ways:
Currently BitCoin 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. Hope all those doing crypto currency mining have had some success mining BitCoin 🙂 Crypto currency trading? How can we trade BitCoin using supply and demand imbalances as a beginner? No need to learn about the fundamentals, there are simple rules that will allow you to locate new turning points and imbalances on BitCoin today or on any crypto currency.
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 BitCoin crypto currency, 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 but as a supply and demand trader we should be waiting for the correction and trade strong imbalances of demand instead of buying BitCoin crypto currency after such a strong rally. You would not do that in normal life situations when buying a new car or a new house, why should you buy BitCoin crypto currency today when you know it’s just far too expensive? It’s illogical.
If you want to learn a crypto currency trading strategy on how to trade BitCoin strategy please join our trading community. Learn how to trade BitCoin using technical analysis and supply and demand imbalances.
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