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?

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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

The price of Bitcoin recently broke through the resistance at the $70,000 zone. This is a significant resistance, marking an important step toward reaching the previous all-time high (ATH) and potentially setting a new one.

Currently, the price is consolidating, which is positive, between $71,000 and $72,000.

Upside Outlook

Two key resistances need to be surpassed to reach $74,000: $72,000 and the $73,000 zone. The primary goal for Bitcoin is to remain above the $70,000 zone to keep the upward trend intact.

Downside Outlook

If the price declines below $70,000, the next support level to watch is in the $69,000 – $68,000 range. Should this level fail to hold, a correction could bring Bitcoin down to $66,000 and then $65,000. The key level to watch for investors looking to buy dips is therefore currently in the $70,000 – $69,000 zone.

Trading Strategy

Currently, trading Bitcoin on the upside is possible from a purely technical perspective by placing a stop-loss in the $69,000 area. Scalpers or day traders may consider taking profits quickly by trading rebounds. For bearish traders, a break below $69,000 could offer a short-selling opportunity. Caution is advised until Bitcoin can surpass these key resistance levels.

For a medium- or long-term strategy, if you believe in Bitcoin, this price point may offer an entry opportunity where one might invest gradually. It’s always preferable to enter the market in stages. This is not financial advice but merely a technical price analysis; fundamental analysis should always be considered if you plan to invest for the medium or long term.

Moving Averages

The 20-day and 50-day moving averages still show a positive signal, with the 20-day moving average (in green) beginning to position above the 50-day average (in red). This setup is very encouraging for the short term.

Key Technical Levels for Trading Bitcoin

Downside Support Levels:

• $71,000
• $70,000
• $68,000

Upside Targets:

• $74,000
• Target Zone: $75,000 – $76,000

The current volatility offers opportunities for traders, but rigorous risk management is essential. It is important to wait for clear confirmations before taking firm positions, whether on the upside or the downside.

The current volatility offers opportunities for traders, but strict risk management is essential. It’s important to wait for clear confirmations before taking firm positions, whether for upside or downside moves.

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

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Decentralized trading with leverage