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Top X Bitcoin Trading Strategies

cryptodaily

1mon ago

Introduction

Bitcoin trading is very profitable for everyone willing to invest both their time and money. the market has a lot of spreads that have made it highly disintegrated. Arbitrage and margin trading makes it possible for the masses to make money by trading bitcoin or other cryptocurrencies.

Like every phase of life, it is very important to have a plan made up before starting to trade bitcoins.

The most crucial advantage of Bitcoin trading is that you can trade it without ever actually having to use them. This is known as CFD that was created to trade Bitcoin without having to physically own it Also CFDs are also beneficial for those who have started Bitcoin trading for the first time.

Top Bitcoin Trading Strategies

In this article, we will discuss some of the techniques of trading bitcoin, including how to short bitcoin in case you analyze that it may crash at any point in time.

Strategies to trade Bitcoin

For instance in the figure above we can notice that Bitcoin’s price is unable to break the resistance, while Ethereum’s price was able to do the same and reached a new high. This notifies that the best Bitcoin trading mechanism is about to show a trade.

The reason why smart money divergence does well because the cryptocurrency market as a whole should move in the same way when in a trend. This is similarly true for any other assets apart from cryptocurrencies.

To understand this, we use the help of the OBV indicator, which is explained above. This can give us an idea of whether real money is purchasing or selling Bitcoin. You must keep an eye on when Bitcoin can cross the resistance level and Ethereum is already broke. Ethereneum must get done to the level at which, Bitcoin was trading before at the same resistance level.

Ways to Short Bitcoin

Conclusion

One day, fiat currencies will be taken over by cryptocurrencies as the world is rapidly advancing towards the age of digitalization and automation in the 21st century. It may be possible that shortly we would purchase everything using cryptocurrencies such as Ethereum and Bitcoin. Hence it is highly recommended when we have both the fiat currencies and cryptocurrencies side by side, we do learn how to trade them for one another that may work out well when we are supposed to replace the fiat currency with the former one once and for all.

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