This time is an excellent opportunity for traders to trade, the main reason being that range levels have been set. If we talk about Bitcoin, its low is 92K and its upper level is 102K.
These are the upper and lower range levels. Keep trading within this range, but with a stop loss. I will share a very simple strategy with you that you will like and will definitely be profitable.
When you see Bitcoin at 92K or around that level, take a long trade, and when the price of BTC approaches the upper range, take a short position.
You need to set strict stop-losses on both sides because these range levels will not last for long. In case of a breakout, a stop-loss will save you from a big loss.
Check the daily time frame to see how many fluctuations have occurred. Sometimes it went to the lower level and then recovered and went to the upper level. Now, during this time, traders who took long or short trades must have made a good profit.
If we talk about the current market, the value of BTC at the time of writing is $97300. Which has crashed now and its price has fallen from 102K. Now is an excellent opportunity to short and set your TP at 93K. Also, set your stop-loss at 103K.
If it stays within the range level, you will definitely make a tremendous profit.
THANK YOU!
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