How to Trade BTC/USD Right Now

In this technical analysis I will walk you through the most important things on the 1h chart right now.

First of all, it's important to re-iterate one simple trading lesson. Buy low, sell high.

Low and high are terms that are relative. In the chart you can see how I try to give meaning to those relative terms.

I determine a "low" price to be close to a place of support. Those are areas in which it is a great opportunity to buy.

I determine a "high" price to be a price close to the trendline that marks resistance. For instance prices going towards around $11,500.

Then, I simply wait until the price goes close to either of those levels. When the price is at the current levels, you wouldn't want to make any decisions because your risk-reward will be off completely.

If you wait for the price to be around one of these levels you can enter a trade with much better risk-reward.

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- Trading Guru

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

Trade active:

We have reached the resistance trend line. As per idea, this could be a good moment to enter a short trade.

Good luck!

Trade closed manually:

This idea got rejected pretty badly. The price broke through the resistance trend line and started an uptrend instead.

We are now in a difficult moment that doesn't allow us to choose direction straight away. In my next idea I will go into detail on what I think will happen next: