Bitcoin Trading Strategy for 15th November 2024 IST 1630 HRSBitcoin Trading Strategy: Buy Above 89,800 / Sell Below 86,600
Current Price: 89,506.00 USD
Key Levels:
Buy Signal: If the price closes above 89,800 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying.
Sell Signal: If the price closes below 86,600 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling.
Market Analysis:
The current price is around 89,506.00 USD, indicating potential bullish activity.
Pay close attention to the range between 86,600 to 89,800 for support and resistance levels.
Recommendations:
Buy: If the price sustains above 89,800 on the one-hour candle close, consider entering long positions. Book partial profits at 89,700 levels or use a trailing stop loss to protect your profit, with targets at 90,000 and 90,500.
Sell: If the price breaks below 86,600 on the one-hour candle close, consider short positions. Book partial profits at 86,700 levels or use a trailing stop loss to protect your profit, with targets at 86,000 and 85,500.
Disclaimer: This analysis is for educational purposes only. Please conduct your own analysis before making any trading decisions.
