฿ Bitcoin BTC/USD Daily Video, March 16, 2023

[Sive Morten]

Good morning,

BTC shows good performance although we have big doubts on its durability. Still, context is bullish and we could consider 23.70K support area for long entry:

 

[Stoic]

hi! at what levels and when to take profits and stop loss?

 

[Sive Morten]

hi! at what levels and when to take profits and stop loss?

Hi Stoic, it depends on time frame that you're trading at. Weekly target we've mentioned in the video, stop should be under K-support area (also mentioned in video). You could set different targets, for example daily overbought if you trade on intraday charts, or smaller sized extensions also should fit well.

 

[Stoic]

thanks for the answer. I analyze daily timeframes and their levels. I don't think bitcoins are suitable for intraday trading. but perhaps this is my mistake.