How to trade BTC/USD?
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Trade ideas
BUY at 4310; TP 4495; SL 4230
SELL at 3940; TP 3775; SL 4000
BTC/USD rebounded from the 200-week MA at 3212. Bitcoin retraced 23.6% of its decline from November highs and may be up for more.
Daily moving averages are still declining, but the cryptocurrency still has some scope to rise until these lines will provide resistance. On H4, there are already positive signals from MAs, and on H1 there’s a stable uptrend.
Given all that, we think that there’s not enough evidence to buy at the support. The sound strategy is to wait for the 4300/4000 range to break and make a trade. You can be sure that you won’t need to wait for long.