Objective: Take advantage of rapid movements in the BTC price to make small but steady profits.
Setup:
Chart: 1-minute candlestick (1m)
Indicators:
EMA 7: 7-period Exponential Moving Average
EMA 21: 21-period Exponential Moving Average
Trading Range: Between $120,000 and $121,000 USD
Trade Example:
Entry: When the BTC price touches $120,000 and the EMA 7 crosses above the EMA 21, indicating a possible uptrend.
Execution: Buy 0.01 BTC at $120,000.
Profit Target: Set a sell order at $120,100, seeking a profit of $1 per BTC.
Stop loss: Place a sell order at $119,950 to limit losses in case the market moves against you.
Considerations:
Scalping requires speed and precision.
It is recommended to trade with low or no leverage to minimize risk.
Maintain a favorable profit/loss ratio, for example, 2:1 or 3:1.