Bitcoin: Daily Review and How to Trade around $20 000

Market Conditions
The market is in the bearish trend. We can see the consolidation around $20 000.

Valuable Areas
For bulls, it is 20MA and $21 888 resistance.
For bears, it is $17 622 support.

Trade Opportunities
The price has been moving around $20 000 round number level. The prise action around it may give possible trade opportunities for day traders with close targets.

For swing trading, I would wait for reversal and false breakout signals from the resistance and support levels in the hourly time frames. It is a workable option for trading in range. And it makes sense to join a momentum after a breakout from the consolidation. If so, profit targets for bulls will be 50MA and $28 000 resistance. Profit targets for bears will be $14 000 and $10 000.

As for investing, it is possible to start building long positions using DCA approach and the proper money management. The true bottom may be between $14 000 and $10 000. The main profit target should be the ATH.


P.S. for amateur traders, who search for exact directions and numbers, I recommend you to read this post "TOP SECRET Revealed"! It will give you better understanding, what the true trading is about. And I advice you to start reading books about trading and watch videos about the same. Because without it, you will always dream about someone, who will make you rich by saying when to buy Bitcoin or any other asset.

Also, I ask you to provide your feedback one more time. For me, the information I write in this post is more than enough for planning EXACT trades. For me, it is very valuable information. But for YOU, probably it is not so obvious. That's why I would like to see your feedback and ideas how to improve this format. So, please, share your thoughts in comments.

And I will write a post why we need "Market Conditions", "Valuable Areas", "Trade Opportunities" and which role they play in planning any day, swing and position trades. But I want to do it AFTER getting your feedback. Thank you.