CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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28.11.202209:46 Forex Analysis & Reviews: Trading tips for Bitcoin

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Exchange Rates 28.11.2022 analysis

The crypto market has been plagued by a downtrend, especially in Bitcoin. But emerging signs indicate that there may be a rally soon.

Following a false breakdown of the yearly low and an active rise last week, BTC corrected significantly during today's opening, providing traders with good buying prices.

Exchange Rates 28.11.2022 analysis

Considering this, as well as the three-wave pattern (ABC) where wave A represents the bullish pressure seen last week, traders could enter the market by buying from current prices up to the 50% retracement level. Set stop loss at 15500, then exit the market on the breakdown of 1700 and 21400.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

Andrey Shevchenko
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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