$BTC #Followers #Everyone #BinanceSquareFamily
Given the current price of 59,650 USDT on the chart, here’s a plan for trading BTC/USDT:
### **1. Technical Overview:**
- **Moving Averages (MA):**
- Short-term (MA7) is likely reflecting recent fluctuations.
- Long-term (MA99) indicates the broader trend.
- **Bollinger Bands:**
- If the price is near the lower band, it might indicate oversold conditions.
- If the price is near the upper band, it might indicate overbought conditions.
### **2. Trading Plan:**
- **Short Position:**
- **Entry Point:** Enter around 59,650 USDT (current price).
- **Stop-Loss (SL):** Set a tight stop-loss around 59,850 USDT (just above resistance or recent highs).
- **Take Profit (TP):** Target the lower end of the Bollinger Band or a key support level, around 59,100-59,200 USDT.
- **Long Position:**
- **Entry Point:** Consider entering if the price drops to around 59,100-59,200 USDT (support level or Bollinger Band lower band).
- **Stop-Loss (SL):** Set a tight stop-loss around 58,900 USDT.
- **Take Profit (TP):** Target the upper end of the Bollinger Band or a resistance level, around 60,000-60,200 USDT.
### **3. Risk Management:**
- Since you've mentioned facing losses, it’s crucial to use a tight stop-loss to protect your capital.
- Consider reducing position sizes until the market trend becomes clearer.
This plan is designed to minimize risk while capitalizing on potential market movements. Adjust according to live market conditions and your own risk tolerance.