Hello guys, in the Daily chart of Bitcoin after last candle close, recently something bullish happened, short term 5 Moving average crossed long term 20 Moving average. MACD is also supporting the further upward movement in the daily chart. this is a bullish signal in an uptrend. this is one of my swing trading strategies in Bitcoin market. I'll go long with a low leverage margin, whenever this daily Moving average crossover happens. I'll close the position as soon as the opposite situation happens which is short term 5 daily MA crossing down the long term 20 daily MA.
A useful tip to this strategy is to combine it with a oscillator indicator like MACD or STOCHASTIC to prevent the fake outs. For example do not go long if the STOCH is at overbought territory and do not go short if It is at oversold territory.
Disclaimer** This strategy doesn't work in a range market condition. Only use it in trendy markets.
You can go back in the chart and backtest this strategy, it is pretty great for swing trading.
Please like and share this idea if you like it.
Thanks for your attention
A useful tip to this strategy is to combine it with a oscillator indicator like MACD or STOCHASTIC to prevent the fake outs. For example do not go long if the STOCH is at overbought territory and do not go short if It is at oversold territory.
Disclaimer** This strategy doesn't work in a range market condition. Only use it in trendy markets.
You can go back in the chart and backtest this strategy, it is pretty great for swing trading.
Please like and share this idea if you like it.
Thanks for your attention
