Bitcoin (BTC) Intraday Trading Strategy
Current Price:
Bitcoin (BTC) is currently trading at $83,358, reflecting an increase of $687 (0.83%) from the previous close.
Today's High: $84,302 | Today's Low: $80,625
Technical Analysis:
Bitcoin has bounced from $80,625 and reached $84,302, indicating strong volatility.
Support Level: $80,000 | Resistance Level: $85,000
Trading Strategy for Today:
For Short-Term Traders:
Long Position: If BTC retraces to $82,000 and holds support, consider buying with a take profit at $84,500 and a stop-loss at $81,000.
Short Position: If BTC tests $84,000+ and faces resistance, consider selling with a take profit at $82,500 and a stop-loss at $85,000.
Key Considerations:
Risk Management: Never risk more than 1-2% of your capital.
Market Monitoring: Stay updated on major news and announcements that could impact prices.
Technical Indicators: Use RSI & MACD to identify overbought or oversold conditions.
Note:
The crypto market is highly volatile—always conduct thorough research before making investment decisions.
