When the market turns bearish, and a BIG VOLATILITY move has just completed, quick swing trades can be easy and profitable. My current view of Bitcoin is that price is about to fall below 30K. HOWEVER, quick trades are abundant with so much volatility.
In this case, I'm reading the 30 min chart and I expect a move to 45K is valid before a major crash. Bulls and bears will fight within this range, and once 45K is achieved...look out below! The trade strategy, buy low RSI and get out quick with a predefined profit.
The green circles on the chart represent where I might find the best buying opportunities as price works its way back to 45K. The hot pink [1K] and [2K] boxes represent the amount of profit I expect to receive.
While bulls fight the bears, there is always plenty of money to be made.
NOTE: Use a stop loss in case the market dives unexpectedly. Stop should be set just below the lowest local candle .... in this case 40K
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Buy 40.5K
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Sell 42K
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Watching the DAILY 20 moving average. Price could get rejected here
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Price rejected a tthe Daily 20 ma. No longer scalping BTC. Waiting for confirmation of bearish continuation.