FX.co ★ Trading tips for Bitcoin

The crypto market has been plagued by a downtrend, especially in Bitcoin. But emerging signs indicate that there may be a rally soon.

Following a false breakdown of the yearly low and an active rise last week, BTC corrected significantly during today's opening, providing traders with good buying prices.

Considering this, as well as the three-wave pattern (ABC) where wave A represents the bullish pressure seen last week, traders could enter the market by buying from current prices up to the 50% retracement level. Set stop loss at 15500, then exit the market on the breakdown of 1700 and 21400.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.