Bitcoin: Bullish Trend in 1H Timeframe
The 1H timeframe shows us how the market is going up. We can draw an ascending price channel using high highs and high lows. Such a structure also tells us about an uptrend.
If we have the bullish market at least in the 1H chart, it is possible to trade in the direction of the local trend. Long trades should be opened at the uptrend line with stop orders below it.
If the price breaks the uptrend line, it will be a trend reversal signal. The market will be able to start a new bearish trend. For this, we need a breakout below 9000USD support. But if this support can stop sellers, we will see a sideways movement above 9000USD support.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If we have the bullish market at least in the 1H chart, it is possible to trade in the direction of the local trend. Long trades should be opened at the uptrend line with stop orders below it.
If the price breaks the uptrend line, it will be a trend reversal signal. The market will be able to start a new bearish trend. For this, we need a breakout below 9000USD support. But if this support can stop sellers, we will see a sideways movement above 9000USD support.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.