Bitcoins Price – How to Trade Bitcoins


Following the uncertainty in the markets Bitcoins, price has oscillating and didn’t break the resistance at $6700.

Bitcoins price is fluctuating between the resistance of $5.870 and the support at $6.800 after spiking to $7.670 a week ago.

Bitcoins Price – How to Trade Bitcoins 1For the past two weeks, we saw similar volatility on the stock and commodity markets. Suspicions that US equities are the precursor of bitcoins price have met. Cross trading measured volatility in terms of volume and pip movements carrying 85% of the total.

Starting off with bitcoins technical analysis, obviously, on a 4-hour time frame, we have not seen anything out of the ordinary. Bitcoins price seems to transit within the range of $6350 and $6450 pointing to a bull run. For a better understanding on such correlations and similarity for bitcoins visit trading view. This tool will help you spot correlations between bitcoins price and US equities. Because some of our audience are beginners I suggest following some of my guides.

Bitcoins price preparing for a bull run

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The volatility of cryptocurrencies is directly proportional with US equities as seen for the past eight months of technical trading. As it stands, the bitcoins price is very nice on the Fibonacci Retracement support level. Sitting on the major moving average support, as well as the 50 moving average support, giving a very strong support ceiling which could be a great launchpad for bitcoins price. After the price breaks out, we can expect a nice bull run for bitcoins price to a nice extended target and nice profits. Applying MACD and double the exponential moving average of 200 and 50 will help you understand.

bitcoins pricePrice likely won’t really up right away, but rather lose some steam soon, and come back down retesting the support levels. Any trading below $6400 would invalidate this trade. So do bear that in mind before executing the trade.

Expecting some volatility with the week as more volume typically occurs during the weekdays than on the weekends

Bitcoins -0.46% is still inside the range since we saw that weird rally a week ago. Moving between $6500 and $6350, with very slow and low volume movement. Another analysis points that we probably won’t see a break until Tether makes a more significant move.
Alts are very close to the 2018 lows, which is a bad sign itself. But some show signs of bottom formation as well, so not much to go on.

Tether also moves inside a tight range now, so there is a chance we might see a break of that range soon. I assume that more movement in bitcoins price when that happens. The volumes have dropped so much, it seems that literally, nobody knows what is going on, meaning even the big professional traders have no clue. But history repeats itself so bitcoins price is not far from it.

Further expectations of Bitcoins price

Historically speaking, bitcoins price behave similarly a year ago where prices where similar and volatility was less. Moreover, this is great considering massive cash outs from the ones who invested $50 for 10.000 BTC back in the day. The effect on that was not a devastating one but left the market clean by filtering short term investors. Remember cryptocurrency trading is not a get rich fast scheme despite all the adds you see all over the internet. If you own BTC don’t be sad or in a rush to sell them HODL for a little longer.

Bitcoins Price – How to Trade Bitcoins 3Conclusion

Depending on the strategy and tools at your disposal, trades can occur both ways regarding bitcoins price action.

Bitcoins correlation with US equities was proven in terms of trading volume and volatility.

Moving forward, bitcoins price is expected for a bull run and most likely it will happen by late this month.

S&P 500 right now is being held up by a bunch of top-tier companies. That is at the very top of the food chain and they’re the ones that are holding this index.

Building stronger strategies and achieve the maximum potential are done by using multiple tools and ideas.

Bitcoins price as for today are at $6.550 and it looks like will remain at that average price until US equities are starting to gain.

Make use of MACD and exponential moving averages to follow the trails and breakouts, ultimately spotting opportunities.

Like always I wish you Happy Trading and Every Success!