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Double Tops and Bottoms Pattern in BTC Futures Trading – How Can We Profit?
In last few weeks, Bitcoin price traded to a new 2019 high close to $5,500 but disappointed most investors who were anticipating a break above $6,000 with a downside correction and declined below the support at $5,200. Though some traders believe the crypto winter will come to an end soon based on the previous bullish momentum over the last week, Bitcoin is still in danger of another drop.
During the bearish to bullish transition, it’s easy to find double tops and bottoms reversal patterns, which give us the signals of the short-term market trend. BTC futures trading with 100x leverage might be the only way to profit in double tops and double bottoms pattern. Read on and see how to earn money with BTC futures trading.
How to Recognize and Analyze Double Tops and Bottoms?
Short BTC in Double Tops Pattern
When the BTC market performs an uptrend, its price hits a high position, and then pulls back. On the next rally momentum, the price will climb near the prior high, then drops below the pullback low. Double tops pattern signals the bull to bear reversal. It’s suggested to open short positions when the pattern is completed.
Long BTC in Double Bottom Pattern
Within a market downtrend, double bottoms usually form when the prices fall to a low position, and then lifts to the upside. On the next falling, the price stalls near the prior low, then rising above the pullback high. Double bottom seems like a support area, signaling bear to bull reversal. Traders may take long positions when the price rises back to above the pullback high.
How to Profit with 100x Leverage BTC Futures Trading in Bexplus?
Similar to BitMEX, Bexplus is also a popular cryptocurrency futures exchange, offering Bitcoin, Ethereum and Litecoin perpetual contracts with 100x leverage. New traders in BTC futures trading area prefer Bexplus, for its easy-to-use interface and user-friendly trading simulator with 10 BTC preset. Beginner can try to trade BTC futures contracts with 100x leverage without losing a penny.
For example, added 100x leverage.
If you invest 1 BTC in the BTC futures trading shorting BTC at $5,200, when BTC drops to $5,000, you will earn 1 BTC * ($5200-5000)/$5200 *100% = 3.8 BTC.
If longing BTC with 1 BTC at $5,000, when it climbs back to $5,200, you will also earn
1 BTC * ($5200-$5000)/$5000*100% = 4 BTC.
BTC Giving Away in Bexplus!!!
Get 100% Free BTC Bonus, Up to 10 Free BTC is Available
Deposit BTC in your account, you will get 100% free BTC matches your balance. You can get 10 free BTC if you deposit 10 BTC in.
More: https://www.bexplus.com/en/cash_back
Earn Up to 72% Annualized Interest with Upgraded BTC Wallet
Balance in the upgraded BTC wallet will be calculated annualized interest which will be up to 72%.
Easy to get profits without trading!
More: https://www.bexplus.com/en/activity/interest
Up to 50% Invitation Referral Reward
Invite friends to register and trade in Bexplus, you can earn 10%-50% of your invitees’ each deposit instantly. It will be counted with BTC and directly credited in your account.
More: https://www.bexplus.com/en/account/activity_show
Now grasp the double tops and bottoms pattern and try to profit from it with 100x leverage trading in Bexplus.
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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively.
US dollar index retreats
Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.
The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points.
Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%.
At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
Blockchain conglomerate GDA Group joins as Campden Wealth’s newest Corporate Partner for 2021. Based in Toronto, GDA group provides access to all verticals of the crypto capital markets to institutions and private investors. The two institutions once operated on different verticals, so the partnership indicates a new era of portfolio allocation and asset diversification. Digital assets, including bitcoin, are becoming a vital component of modern investment strategies. GDA Group provides multiple avenues for digital asset exposure, including trading services through their institutional trading desk Secure Digital Markets, including non-recourse lending up to $100M through GDA Lending, and private placements through their capital markets arm GDA Capital.
“Institutions have spent a decade on the sidelines, evaluating the risks of this burgeoning sector. Now, in less than 6 months we have seen billions in institutional and private capital enter the space,” says James Godfrey, FX and International Banking Advisor to GDA Group. “Our relationship with Campden will illustrate the maturation of this industry and where we are headed next. New stakeholders will need experience, resources and insights to navigate this new market and evaluate upcoming opportunities.”
“The Campden Community is constantly balancing the needs of wealth creation for the future, with wealth preservation…
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