$BTC Trade
Part of the Series
Day Trading Introduction
There was a time years ago when the only people able to trade actively in the stock market were those working for large financial institutions, brokerages, and trading houses. The arrival of online trading, with the instantaneous dissemination of news, has leveled the playing field. Easy-to-use trading apps and the 0% commissions of services like Robinhood and Charles Schwab have made it easier than ever for retail investors to trade.
Day trading can be lucrative as long as you do it properly (though there is never a guarantee). However, it's typically challenging for novices and often a losing way for newer investors to trade.
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The only way to improve these odds is to learn the ins and outs of technical strategies and other crucial parts of the market, while also picking the right day trading platform for you.
So, what exactly is day trading, and how does it work?
Key Takeaways
Day traders buy and sell stocks or other assets during the trading day to profit from the rapid fluctuations in prices.
Day trading employs various techniques and strategies to capitalize on these perceived market inefficiencies.
Day trading is often informed by technical analysis of price moves and requires a high degree of self-discipline and objectivity.
Based on the inverse cup-and-handle pattern setup, a breakdown below $100,800 will increase Bitcoin’s likelihood of dropping toward $91,000.
The $91,000 downside target aligns with BTC’s 200-day exponential moving average (200-day EMA; the blue wave).
Bitcoin’s relative strength index (RSI) has declined in tandem with its price, signaling strong trader conviction behind the ongoing sell-off.
As of June 7, the RSI reading was 52, reflecting a weakening upside momentum; a break below 50 could intensify downside pressure.
To regain control, bulls must reclaim Bitcoin’s 20-day EMA (the purple wave) resistance at around the $105,000 level. A drop toward $91,000 could effectively lower BTC’s potential of hitting $150,000 by 2025’s end.
