tim23a

BTC/USD Key levels for scalp trading.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC/USD is currently in flat, but we still can find some opportunities for trading. Bitcoin broke through the trend resistance and confirmed the breakout. However, a loss of bullish momentum is clearly seen along with the fading volume . How can we use this data for trading?

1) If BTC consolidates near $3710, then the triangle will be formed and we could see a breakout. If so, BUY from retest of $3710 and place TP in $3745-3770 zone.
2) If BTC goes down from current level and breaks through 3690, then STOP is preferable from retest with TPs at $3670-3650.

Note: SL is required for scalp trade.

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