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Author: Admin | 2025-04-28
To make money on the BTC. It could be a breakout of the support or resistance level. In this case, the price breaks out the trendline (blue circle in the chart below). We could expect that the price should continue declining in the future. Therefore, one could enter a short when the next candlestick opens (blue line).Bitcoin is a very volatile asset, and its chart is moving up and down like a roller-coaster. I set a stop loss at the next local high (red circle) to limit the potential loss if the price goes in an unwanted direction.To define the target, we determine the next low on the history chart (green circle), the support zone. When the price reaches the support level, the trade is exited with a profit (green line). What Does Bitcoin Longing MeanLonging or opening long positions in the presence of an exchange wallet involves buying bitcoin at a low price to resell it when the BTC value rises. This type of trading is available on any centralized and decentralized exchange using any crypto wallet. The exception is a hardware wallet, usually used to store coins securely and, therefore, inconvenient for trading transactions.In trading a crypto derivative, longing generally means buying a contract to deliver a crypto asset in 1 day. Before expiration, the contract is automatically opened the next day again. Thus, it actually becomes indefinite. In trading, this instrument is called a perpetual swap or perpetual futures contract. Let us look at the steps for longing Bitcoin.Analyze the market and expect a signal of a soon price rise;When the price starts growing, enter a long trade;Sell the underlying asset when its value increases;The trade profit is the difference between the entry and exit prices.How to Long BitcoinTrading through a broker almost always involves the use
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