The IC Markets Cryptocurrency CFD product allows traders to go long or short without actually holding the Cryptocurrency. This means traders can get exposure to the price of the Cryptocurrency without . BTC Markets exchange statistics; Trading market pairs: 8: 24h Volume: $3,, USD. €2,, EUR. 3,,, KRW. BTC. 24h Trades: more than 4, IC Markets is the one of the top choices for automated traders. Our order matching engine located in the New York Equinix NY4 data centre processes over , trades per day with over two thirds of all .
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Bitcoins rely on cryptographic protocols and a distributed network of users to mint, store and transfer. Like any other commodity, Bitcoin responds to supply and demand forces. Based on the popularity of Bitcoin and trust among cryptocurrency community members, price was able to rapidly advance in With supply capped at 21 million, it is expected price will likely rebound from its lows in the future, though this remains heavily debated in the financial community.
Even the mildest rumour circulating the internet typically causes a noticeable effect. While there are a number of Bitcoin trading strategies littered throughout the internet, keeping things simple is key! Support and resistance, the backbone of many technical strategies, is crucial to understand.
Knowing how to correctly plot support and resistance levels on a chart will put you light-years ahead of the competition. Note each level boasts historical significance. At its most basic, a level of support is where downside is capped due to buying.
A resistance level is similar, only inverse. Instead of buying activity, it is selling that holds the level firm. Traders use this understanding of market psychology as a means of initiating a foundation to trade. As demonstrated on the chart below, to draw effective support and resistance levels, traders should view support and resistance points as zones marked in orange , and not defined price points.
Adopting the use of a zone in place of a fixed level gives trades room to breathe. Support and resistance levels are seldom respected to the pip, and this is where the majority of traders are usually trapped and stopped out. Trend lines are another key aspect to consider. When merging with noteworthy support and resistance levels, killer trading is possible.
By definition, trend lines are barriers drawn at an angle above or below price. An ascending trend line forms by connecting two or more low points. The second low must be higher than the first for the line to have a positive slope, i. Note at least two points should connect before the line is considered valid. The same is said for descending trend lines, only inverse. This is a question that crops up all the time.
And the answer is simple: use both! Adopting both the candle extremes and the bodies allows market participants to pencil in a buffer, so to speak. Like support and resistance levels, considering a trend line as a definitive price point is a challenge. It should always be drawn in as an area. While an elaborate trading strategy may impress your family and friends, it is unnecessary to succeed. That can be said for any market. For those involved in the markets for a while will already know keeping things simple is a MUST in trading.
Both are relatively easy to apply and offer high-probability turning points. The only other point traders are urged to include is trend direction.
As you can see on the chart above, both trading opportunities were alongside the predominant trend. Folks who feel they need additional confirmation on top of this, however, may want to consider Fibonacci calculations, specifically the IC Markets is the one of the top choices for automated traders. Our order matching engine located in the New York Equinix NY4 data centre processes over , trades per day with over two thirds of all trades coming from automated trading systems.
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