Bitcoin How to Trade

The price reaches the important resistance zone at 5000.00 level. We have to watch closely for price action near this zone and be ready to act. We have 2 directions of further price movement. Upward or downward. Will it be a breakout or a reversal? If the price bounces from this strong resistance zone, we'll see a short term retracement to 4500.00 levels or SMA50. These levels will be good for new buying based on reversal signals. If you opened long trades based on my previous buy signal below 4000.00 level, as a variant, you can fix a part of profit near 4900.00 level. You can invest profit in top altcoins which are on good levels for buying. The part of long positions should be left for long run. If the market breaks this resistance zone and moves upward, you will stay in the market with the part of volume. MACD confirms upward movement. ADX line rises and it gives a signal that the price movement get more power. We must be ready to see upward movement to 5500.00 and 6000.00 levels. If so, the rest part of long trades will give you additional profit. Of course, you should decide by yourself how to manage your opened positions. I just share with you my plan how to trade in this market when the price is not far from 5000.00 level.