Looking at the 15-minute timeframe of the BTC/USDC perpetual chart , here’s a strategy based on what’s happening right now:
1. Short-Term Trend Analysis
- Price Movement: Bitcoin has recently bounced off a low of $67,978.8 and is now trading around $68,380.2.
- Moving Averages:
- The 7-period moving average (yellow line) is crossing above the 25-period moving average (purple line), indicating short-term bullish momentum.
- The price is currently holding above both the 7-period and 25-period moving averages, supporting a bullish bias for the short term.
- Resistance Level: There is a resistance near $68,415, which was touched previously but not yet broken.
- Support Level: Recent support was found around $67,978, and the price bounced strongly from this level.
2. Indicators to Watch
- Volume: Volume spikes can be seen on the rise, indicating strong participation in this upward move.
- Funding Rate: The funding rate is slightly positive at 0.0100%, meaning the market is currently biased towards longs, though not extremely overleveraged.
3. Potential Strategies
A) Long Position (Bullish Continuation)
- Entry: If the price breaks above $68,415 with increased volume, this could signal a continuation of the uptrend. You can consider going long at this point.
- Stop-Loss: Set a stop-loss below the recent support level of $67,978, or below the 25-period moving average (around 68,204) to limit your risk.
- Take-Profit: You can aim for higher resistance levels. If BTC continues upward, target around $68,800 to $69,000.
B) Short Position (Bearish Rejection)
- Entry: If the price tests the $68,415 level again and gets rejected (e.g., forming bearish candlesticks like an engulfing candle), consider shorting with a target for a pullback to $68,000 or even $67,800.
- Stop-Loss: Set your stop-loss above the $68,415 resistance level to minimize the loss if the price breaks higher.
4. Scalping Setup
If you are trading frequently, here's a quick scalping strategy:
- Go Long when the price touches the 7-period moving average and shows a bullish candlestick pattern. Keep the position small and exit quickly near resistance.
- Go Short if the price breaks below the 25-period moving average on a 15-minute chart with increasing volume.
In summary
- Bullish scenario: If $BTC breaks above $68,415 and holds, long positions look favorable.
- Bearish scenario: If #BTC is rejected at resistance, short for a pullback.
- Monitor volume and price action closely as it approaches key levels.
This strategy aligns with short-term moves and helps take advantage of either a bullish continuation or a bearish pullback during the day.