Trade Bitcoin Trading

MA Support and Resistance Zones

Moving Averages (MAs) can serve as support and resistance points on Bitcoin charts.

When bitcoin price reaches the moving average, the Moving Average level can act as a point of support or resistance for the bitcoin price.

Buy Signal

If the price of bitcoin is going up and then starts to go down a bit, many traders might wait to buy at a better price when it reaches a level where it usually bounces back up. Bitcoin traders sometimes use the MA to find this level.

A buy cryptocurrency signal gets derived and generated when bitcoin price hits the Moving Average, turns and starts heading in the upward bitcoin trend direction. The cryptocurrency signal is confirmed when bitcoin price closes above the Moving Average. Because many bitcoin cryptocurrency traders use the MAs to generate cryptocurrency trading signals, bitcoin cryptocurrency price will usually react to these levels.

Place a stop loss right below the moving average indicator for Bitcoin. Aim for a few pips under the last low.

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Sell Trade Signal

If the bitcoin price is on a downward bitcoin trend & starts and begins to retrace, then most traders may wait to sell at a better bitcoin price when the bitcoin price hits a resistance area. Bitcoin Traders will sometimes use the MA to figure out the resistance area.

A sell signal for cryptocurrency assets emerges when the price of Bitcoin reaches the Moving Average, reverses direction, and begins moving down in the prevailing trend. The validity of this forthcoming signal is confirmed once the Bitcoin price settles below the established Moving Average. Given that many Bitcoin traders rely on MAs for generating trading signals, price action frequently reacts decisively around these specific levels.

A stoploss should be set just above the bitcoin trading moving average indicator. Ideally it should be set a couple of pips above the previous high.

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Resistance Zone turns Support Area

In Bitcoin, when a resistance level is breached, it becomes support, and vice versa.

This happens when the fundamentals of a bitcoin trend change and consequently the direction of bitcoin crypto. Direction change is reflected by the moving average cryptocurrency technical indicator, the direction is confirmed when the resistance zone turns into support area or vice versa (when support area turns into resistance level)

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