Bitcoin: How to Trade the Ranges Like a ProWe are in a relative range.
The reactions from the 0.5 levels are proof of this.
In a similar analysis, I had previously made one of the best trades that could be made in BTC.
The manipulations of this range at the 0.25 and -1.25 levels are not very regular.
Also, the movements it makes are far from creating symmetry, so we cannot compare this analysis to the previous one.
How to trade here? First of all, we are not in any serious demand area and it would not be wise to assume that there is any serious resistance range.
So what will we do? We will try to find entries from the upper and lower parts of this range. My short analysis on the upper part is available here.
The initiative at the bottom can be the Range Low and the green line.
So can the price continue down without giving a short opportunity? Of course it can, in this case our stop loss order will be triggered. I don't like to take high risk in such non-serious demand areas. However, I don't want to neglect a point that can give 1 to 3-4 in the lower area of โโthe range. If my long order comes, I will take a large part of my profit on the upper part of the range, pull my stop to the entry and open the short trade.
Don't hesitate to carry two trades in two directions, especially if the price seems to form a range. And when the price starts to go voluminously below or above the range, definitely let your stop order be executed and stop your loss.
If you think this helps you, please don't forget to boost and comment on this. These motivate me to share with you.
I keep my charts clean and simple because I believe clarity leads to better decisions.
My approach is built on years of experience and a solid track record. I donโt claim to know it all, but Iโm confident in my ability to spot high-probability setups.
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