Volatile days are lived in the Bitcoin market, but always within the range of $ 9,000 to $ 10,000. In this lateral scenario we ask ourselves: Is BTC giving money away?
At the time of writing, the price of Bitcoin is trading around US $ 9,500, exactly in the middle of the range that it has not been able to leave for weeks.
If you are a short-term trader, it is an unbeatable time to look for small movements in the price of Bitcoin to make money.
Make money with Bitcoin in the short term?
If you are a long-term investor who relies on Blockchain technology, especially Bitcoin, you can Hold and breathe easy. Now, if you like the adrenaline of short-term investments, this is the right time for you.
The objective of this post is not to make a complicated explanation of how to make money with Bitcoin in the short term, but rather to tell you what is the strategy that I have been using for 2 weeks.
Strategy to invest in Bitcoin in the current context
- Buying Bitcoin near the key support of 9,000 USD. A good entry point may be $ 9,100.
- When the BTC price rises to US $ 9,600, close the position.
- Repeat the cycle until BTC breaks out of the $ 9,000 / 10,000 range.
The strategy is very simple and does not require being an experienced trader. Orders can be scheduled on exchanges / brokers and you just give up, everything is done automatically.
In the graph below, it can be seen how the price of Bitcoin in the last 3 weeks has touched the minimum of US $ 9,000 at least 3 times, and then rose in all cases above US $ 9,600.
Applying the aforementioned strategy they would have won in all 3 cases, giving an interesting return, especially if the investment is made with financial leverage.
If you want to make the investment and keep the Bitcoins in your possession, I recommend the Binance exchange. Instead, if you are looking to use financial leverage, taking risks to find high returns quickly, you can use the Plus500 online broker.
The information in this content has been extracted from reliable sources detailed below:
1- Own writing of the author of the content.
2- The graph with the BTC price is Plus500.