An Explanation on BTC/USD for Scalp Traders

Jan 8, 2021

I understand many of you must be fascinated by all the log charts and crazy 200k/300k targets on bitcoin. But let's also not forget about the other side of trading. You don't need the price to go from 40k to 400k to make a 10x in profits. You can also see the price going from 40k to 45k and achieve that, as long as you manage to buy all the little downward motions and sell on the little upwards motions.

Scalp trading can still be super successful, and also allows you to get returns on sideways or downwards parts of the price action. In this idea I will show how to use the channel to get a nice scalp trade in.

BTC never goes up in a smooth uptrend, there are always little movements we can detect. In this case we can see in the channel that near the top resistance line BTC often takes a small hit and retraces. Whenever BTC reaches the bottom support it continues its uptrend again.

Now that we've just seen a confirmation on the bottom support line, it's time to buy and hold towards the top resistance.

We're looking at a 10%+ trade opportunity here just following the channel over a span of about 10 hours.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!