Ok, so my idea is this.
BTC is in a bullish trend aiming to 11K, however, it probably needs a small correction or just a break before continuing its way up. That doesn't mean we cannot make some profit quite easy with minimum risk.
You can see two lines in the screenshot, RED and BLUE, Red is the current resistance and Blue is the current Support (only in the 15M chart).
What I am going to do is to open long positions with 10x leverage on the support line and take profit on the resistance.
With 10x leverage, you have a margin to allow the BTC going down to 9200 (unlikely scenario since we have strong support on 9900 and 9500) but you can always place a Stop loss in 9999 if you want.
Why I won't open short positions on resistance?
Because its too risky, if the price breakout and keeps moving up my position with leverage will be liquidated, instead I prefer to open positions where the big bets are, best case in one of those positions the price will break resistance and I can make a bigger profit until the next resistance in 10500.
This is not financial advice
BTC is in a bullish trend aiming to 11K, however, it probably needs a small correction or just a break before continuing its way up. That doesn't mean we cannot make some profit quite easy with minimum risk.
You can see two lines in the screenshot, RED and BLUE, Red is the current resistance and Blue is the current Support (only in the 15M chart).
What I am going to do is to open long positions with 10x leverage on the support line and take profit on the resistance.
With 10x leverage, you have a margin to allow the BTC going down to 9200 (unlikely scenario since we have strong support on 9900 and 9500) but you can always place a Stop loss in 9999 if you want.
Why I won't open short positions on resistance?
Because its too risky, if the price breakout and keeps moving up my position with leverage will be liquidated, instead I prefer to open positions where the big bets are, best case in one of those positions the price will break resistance and I can make a bigger profit until the next resistance in 10500.
This is not financial advice