💡 Idea of trading $BTC using the “bounce from support and resistance” strategy
📊 The basic idea:
It is based on monitoring support and resistance areas — which are the levels from which the price usually bounces upwards or downwards.
🧭 Practical steps:
1. Open the BTC/USDT chart on a 1-hour or 4-hour timeframe on the Binance platform.
2. Draw the support line at the lowest price the bitcoin reached in the last strong downward movement.
3. Draw the resistance line at the highest price from which the price bounced downwards.
4. Monitor price movement:
If the price approaches support and starts to bounce → Buy signal (Long).
If it approaches resistance and starts to drop → Sell signal (Short) or exit the trade.
5. Place a stop loss just below support when buying, or just above resistance when selling.
6. Set the take profit target at a level close to the next resistance or halfway between support and resistance.
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🧠 Advice from professional traders:
Use the RSI or MACD indicator to confirm the trend before entering the trade.
Do not enter with all your capital in one trade.
Monitor market news as it significantly affects $BTC , especially news about U.S. interest rates or #ETFvsBTC .
