Decentralized Bitcoin trading, what not to ignore?

Decentralized Bitcoin trading, what not to ignore? If you want to trade Bitcoin, scalping, day trading or you are already doing it, here is some important information.

Decentralized Bitcoin trading, what is it and is it possible?

Just get the answer to this question below or go directly to

Bitcoin technical analysis – just below

In the news of decentralized finance, we talk a lot about NFT, Metaverse and other projects, but some people ask the question, is it possible to do decentralized trading and especially on Bitcoin?

While crypto-currencies can be used to purchase everyday items in some stores, they are more commonly traded as digital assets for investment profit.

Impressive profits can be made by buying and selling on crypto-currency exchanges. But prices can be very volatile, so you could lose a lot too.

Decentralized Bitcoin trading:

Bitcoin trading is how you can speculate on the price movements of the crypto-currency without necessarily buying Bitcoin. This is because traditionally, you would have to buy Bitcoin via an exchange, hoping that its price would rise over time. But now, those days are over, currently, crypto-currency traders are increasingly using derivatives to speculate on the rise and fall of prices – in order to make the most of Bitcoin’s volatility and without having to actually buy Bitcoin.

This allows one to trade Bitcoin in one’s own way, scalping, day trading, swing trading as one would with an index or gold.

Some people have already made their experience with a broker, they had to send money, after opening an account, and proceed to a lot of so-called security measures before they could actually trade. Then, once they made money, they were confronted with the broker’s system of claw backs.

In order to avoid all these procedures, and above all, in order not to need to trust a broker, by sending him his money, more and more traders are turning to decentralized trading.

At present, we can say that a good decentralized trading platform offers scalping, day trading and swing trading, as is the case with – gains.trade – dydx.exchange

Decentralized Bitcoin trading, the advantages:

The advantages of decentralized trading are obvious:

• no registration, no need to create an account
• high leverage if desired
• no sending money to a broker
• direct trading from your Metamask account, for example
• no need to apply to get your money back

You should know that on some platforms, you can do virtual trading, to familiarize yourself with the platform. Before you start trading for real, this option allows you to get used to the platform, which is recommended.

Another important point, you can also, on some decentralized trading platforms benefit from chat that allows you to communicate with other traders.

Therefore, yes, it is possible to trade Bitcoin on a decentralized trading platform and take advantage of the benefits offered by the blockchain and decentralization.

Now, you know, that when looking to trade Bitcoin, there is an alternative to using centralized exchanges to profit from the rise and fall of its price. You can trade on Bitcoin’s price movements via decentralized and leveraged trading.

For the record, it’s possible to trade dozens of different crypto-currencies as well as decentralized Forex trading.

Decentralized Bitcoin trading, technical analysis (daily)

Decentralized trading with bitcoin, should we refrain from taking a position or on the contrary, is it the right time to take a position?

Spot Bitcoin ETFs have been accepted and the price has surprised many people. In fact, the flow of funds into these ETFs will take place over a period of time, so the impact on the price will be positive but gradual.

Bitcoin Price Analysis and Trading Strategy

Bitcoin Price Analysis

The Bitcoin price tested the support zone around $52,600 and started to rebound.

Upward Outlook

The resistance zone at $55,000 is crucial and appears to be breaking as we write this article. The immediate goal is to break out of the daily downward channel, which means surpassing two resistance zones: the $56,000 zone and the $56,800 zone. If this area becomes a solid support, we can expect to move back towards a major resistance at $58,000 and ultimately the $59,000 to $60,000 range.

Downward Outlook

The support, as shown in the chart above, is located around $54,800. If it breaks, we would then test the supports near $54,000, then $53,000, which would bring us closer to a major support at $52,500.

Trading Strategy

Currently, trading Bitcoin to the upside is a delicate decision as long as the $61,000 resistance is not broken. It is better to take profits quickly. On the downside, it would be wise to wait for the $52,000 zone to break in order to attempt a bearish trade over a longer period. Above that, it is also better to scalp, meaning taking profits quickly.

Waiting for confirmation that $61,000 becomes a solid support is preferable if you want to position yourself for a medium- to long-term bullish move.

Moving Averages

The 20-day and 50-day moving averages are positioned for selling, with the 20-day moving average in green below the 50-day in red, as shown in the chart above.

Summary

Key Supports to Watch for a Downward Move:

• $54,800
• $54,000
• $53,000
• $52,500

Upward Targets:

• Key resistance zones to break: $56,800 and $58,000 – $60,000 to $61,000.
• Target zone: $62,300

Want to trade BITCOIN, without a broker, in a 100% decentralized way?

Test it now

What’s true for Bitcoin is often true for other cryptocurrencies, with a few exceptions. This is the reasoning of a good trader, not a casino gambler, and I have nothing against the latter, but you just have to act according to who you are. If you gamble, then don’t be surprised if you lose; otherwise, the trader waits for his chances of winning to be maximized, which frankly isn’t the case at the moment.

WARNING!

1. Trading with or without leverage is risky, you can lose everything you trade.

2. If you live in the USA or are American, you cannot trade on this platform

Discover the largest community of traders who have chosen trading without a broker, without an account and 100% decentralized.

Decentralized trading with leverage