Trading strategy for Bitcoin (BTC) with current prices:
Strategy Name: BTC Scalping Strategy
Current Price: $98,853.36
Objective: To scalp profits from intraday price movements.
Timeframe: 15-minute chart
Indicators:
1. Moving Averages (MA): 50-period MA (blue) and 200-period MA (red)
2. Relative Strength Index (RSI): 14-period RSI
3. Bollinger Bands (BB): 20-period BB with 2 standard deviations
Entry Rules:
Long (Buy) Entry:
1. Price closes above the 50-period MA.
2. RSI is below 30 and turns upwards.
3. Price touches or breaks above the upper BB.
Short (Sell) Entry:
1. Price closes below the 50-period MA.
2. RSI is above 70 and turns downwards.
3. Price touches or breaks below the lower BB.
Exit Rules:
Take Profit:
1. Set a profit target at 2-5% above/below the entry price.
2. Trail the stop-loss to lock in profits.
Stop Loss:
1. Set a stop-loss at 1-2% below/above the entry price.
2. Adjust the stop-loss based on market volatility.
Risk Management:
1. Position sizing: 1-2% of the trading account.
2. Maximum daily loss: 2-3% of the trading account.
Example Trade:
Assuming you buy 0.01 BTC at $98,853.36:
Take Profit:
- 2% profit target: $100,610.11 (sell 0.01 BTC)
- 5% profit target: $103,896.29 (sell 0.01 BTC)
Stop Loss:
- 1% stop-loss: $97,962.81 (sell 0.01 BTC)
- 2% stop-loss: $97,072.25 (sell 0.01 BTC)
Notes:
1. Monitor the 200-period MA for long-term trend direction.
2. Use the RSI to gauge overbought/oversold conditions.
3. Adjust the BB settings based on market volatility.
4. Stay disciplined and patient, avoiding impulsive decisions.
This strategy is for educational purposes only and should not be considered as investment advice. Trading carries risk, and it's essential to do your own research and testing before using any strategy.
