$BTC Day Trading BTC/USDT on Binance
Strategy:
* Identify Trend: Look for clear uptrends or downtrends on the 1-hour chart.
* Entry: Buy when price breaks above a resistance level (uptrend) or sells below a support level (downtrend). Use stop-loss orders to limit risk.
* Target Price: Set a target price 1-2% above the entry price for uptrends, or 1-2% below for downtrends.
* Sell Price: Sell when the target price is reached or if the price reverses and moves against your position.
Example:
* Uptrend: If BTC/USDT breaks above the 94,500 resistance level, buy with a stop-loss below the previous swing low. Set a target price at 96,500.
* Downtrend: If BTC/USDT breaks below the 93,000 support level, sell with a stop-loss above the previous swing high. Set a target price at 91,000.
Important Note: This is a simplified strategy. Always do your own research and consider factors like market volatility, news events, and risk tolerance before trading.
Disclaimer: Cryptocurrencies are highly volatile and speculative investments. Always invest responsibly and be prepared to lose your entire investment.