Trade Bitcoin Trading

Entry Bitcoin Order in Bitcoin and Limit Bitcoin Order in Bitcoin

Limit order meaning - Entry limit is an order to buy or sell a Bitcoin at a certain bitcoin price which is a retracement zone where bitcoin price is predicted to pull back to before resuming the original Bitcoin trend. Bitcoin traders use them to buy or sell at better market bitcoin price. These types of trading orders are available in most online platforms, for our example we will be using the MT4 btcusd crypto software.

An entry of this type can be used to buy below the btcusd market level (up bitcoin trend market retracement) or sell above the btcusd market level (down bitcoin trend market retracement).

Buy limit - When buying, your entry buy limit pending order is executed/opened when the bitcoin crypto market falls to your set btcusd crypto price. ( price retraces down )

Sell limit - When selling, your entry sell limit order is executed/opened when the bitcoin market rises to your set bitcoin price. ( price retraces up )

Entry orders are set by bitcoin traders when they expect bitcoin crypto price to bounce back after reaching this area.

  • Entry Buy Limit Bitcoin Crypto Currency Orderbuy at a level below the prevailing market level.
  • Entry Sell Limit Bitcoin Ordersell at a price point above the prevailing market level.

Buy Entry Limit Example

In the example below, a buy limit order for BTC/USD was set below the current market price. Point B marks the exact level for the order.

Where and How Do You Set Limit Bitcoin Orders in Bitcoin Trading?

Limit buy order entry placed to open buy below the prevailing market bitcoin price

The bitcoin cryptocurrency price then retraced and went down to hit the buy entry limit, & afterwards bitcoin price continued to move upwards in direction of the original Bitcoin upward trend. When limit buy order was hit by price it changed into a buy.

Bitcoin Crypto Currency Price Hits Buy Limit Bitcoin Order, Order Now Changes to a Buy

Bitcoin Crypto Currency Price touches buy limit, order now changes to a buy

Sell Entry Limit Bitcoin Order

In the example provided below, the sell entry limit was established to initiate a sell when the bitcoin price exceeds the current market price. This represents the level for the bitcoin price retracement.

entry limit sell order placed to sell above the current market bitcoin price

Entry limit sell order placed to open sell above the prevailing market bitcoin price

The price of bitcoin then surged, reaching the sell entry limit, and subsequently, the bitcoin price continued to decline in alignment with the ongoing downward trend of the cryptocurrency.

BTCUSD CryptoCurrency Price Hits the Sell Limit Bitcoin Crypto Currency Order, Order Now Changes to a Sell

Bitcoin Price hits the sell limit, order now changes to a sell

When bitcoin quote got to the set level the order changed in to a sell, this is therefore a nice method to buy or sell at a better bitcoin price after a price retracement.

Setting Buy & Sell Limit BTCUSD Orders in MT4 Platform Software

To place these orders on the MT4 platform, right-click the Bitcoin chart. Pick "Trading." Then select "New." In the pop-up window that appears (shown below), choose "pending" under the "Type" label, not "market execution." For the pending crypto order type, pick "Buy Limit BTC/USD CryptoCurrency Order" or "Sell Limit BTC/USD Crypto Order." This depends on if you want a buy or sell pending order.

Setting Buy & Sell Limit Bitcoin Orders on MT4

Placing Buy & Sell Limit Crypto Orders on MT4 Platform Software

Placing your entry point can feel tough. Set it too far, and the limit order might miss. The Fibonacci retracement tool helps best. Aim for the 38.2% level. Many Bitcoin traders eye that spot. Orders pile up there. Your best shot at a trade comes from that 38.2% Fib level.

Fibo Retracement Guide and Tutorial

Tip: in Bitcoin online trading, If you as a trader want to set a good takeprofit level (not retracement level, take profit order level) for your trades you can use the Fib expansion 100% level for the best take profit area. To Read more on BTCUSD Fib Retracement and Fib expansion use the right navigating menu section Technical Analysis.

A Tutorial on the Fibonacci Expansion Tool - A Lesson Regarding the Fibonacci Expansion Tool

Learn More Lessons and Tutorials & Guides:

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