Bitcoin How to Trade

The market gives us a trend reversal signal one more time. The bearish divergence, the possible double top chart pattern and the overbought market tell us about correction movement to 13000.00 level at least. This support zone is formed by SMA100 and the support level and it can be good for getting new buy signals. But what if the market ignores the trend reversal signal and moves to new highs? We had the similar situations and we must be ready to see the same price movements again. If so, we can place pending orders for buy above 17200.00 level. The market will have to break the downtrend line from the 1H time frame and move above the resistance level. If the market can do this, we'll get confirmation of further upward movement. Buying based on a breakout above the downtrend line seems rather risky trade, because the resistance level can stop and reverse the market. It will be better to buy between 13000.00 and 10000.00 support levels with profit targets at 17000.00 and 20000.00 levels. Trying to make more profit, don't forget about proper risk managements. And also don't forget to make your own research before doing anything in this market.