Bitcoin is most volatility exchange stock and why I'm thinking that ? Because every month bitcoin have Big price movements ! and when I'm saying big I'm mean really big movements. If you look on graph you can see how bitcoin went really big by 3 years. And now I'm here to help you how to analysis the bitcoin and how I would make money on it. So lets start now! Look down on that Graph.
Screenshot from IQoption.com Time Frame 1H Bitcoin
Graph analysis
When you look on graph you can see two lines. Green line is resistances line and red line is supports line both lines are really important ! Why ? Let me show you.
Short position
If price (bars) will go through red line then you should go to short positioning but wait a little bit because of fake puncture ! But also be aware, price could just bounce off red line and then you should wait. If price dont go through red line then you should look where the price go if through green line you should go into long positioning but again be aware of fake puncture !
Long position
Price go through green line (resistance) then you should go into long positioning, but better wait for a bit because of fake puncture ! Also be aware again cause of bounce off then how I said in short position term but there will be opposite situation !
Summary
Now for everyone when you should close trade you are asking ? Ok here are 2 tips when 1. When you are happy with profit 2. When you see there is forming support or resistance depends on where price will go.
I'm Warning you !!
I'm not responsible for your money loses !! I'm here just for make estimates ! The trade depends on you You can just inspirate from me !! But if you lose money i will not give you money back and noone will! Stocks exchange is very hazardous have that in mind ! I'm not guarantees accuracy of any content and hence using information on this website is solely your responsibility. The article is only for informational character(nature) and should not be take(taken) as investment advice for the purchase or sale of stocks(shares) or other instruments. The reader agrees that the purchase or sale of stocks(shares) and other instruments based on the content of this article is at his own risk and liability.
Disclaimer
That all decisions the trader takes itself, and all indicated is not advice and a guarantee of profit
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