The market of cryptocurrencies is booming. especially the Bitcoin which has gained huge popularity over a period of time. In Olymp Trade, Bitcoin has been one of the most searched assets and traders love it. In this article, I will cover everything about Bitcoin and how you can trade properly with the same.
What is Bitcoin?
Bitcoin is a digital currency that follows the idea of Satoshi Nakamoto. However, The real name or who is Satoshi Nakamoto is still unknown. Bitcoin came into existence in the year 2009. It is called a cryptocurrency because it uses Cryptography.
Bitcoin is a decentralised digital currency which means it is not governed or regulated by the government despite this fact Bitcoin has gained huge popularity all around the globe. Billionaires like Elon Musk, Ratan Tata, and Amitabh Bachan have invested their money in Bitcoin. There are billions and trillions of transactions online and all the Bitcoin transactions are verified by a massive amount of computing power In simple words we call it “Mining”.
How to find and set Bitcoin on Olymp Trade Chart?
Once you have logged in to your Olymp Trade account. You need to click on the currency button on the top.
Next, search for bitcoin on the search bar. and select the name.
If you want to check how Bitcoin has performed over a month or year. just click on the timer button and select 1 month from the menu.
How to trade with Bitcoin using MACD on Olymp Trade
Bitcoin is a semi-volatile indicator. Therefore, we should use a proper trend indicator like MACD with the currency.
Now, to set MACD click on the indicator button and search for the Macd and select the same from the menu.
Now, what you will see is that the two lines green and red that are moving around the histogram represents the price fluctuations and the moment these two lines intersect each other is a moment this indicator generates buy and sell signals.
If you look at this indicator properly there is zero line. whose main job is to help you verify the strength of the trend.
Trading with the MACD indicator is very easy you just need to remember the golden rule.
- When the green line intersects the red line from the bottom and later the green stays above the red line even after crossing the zero zone is a signal of bullish trend and we can place a buy trade here.
- Similarly, When the green line intersects the red line from the top and later the red line stays above the green line even after crossing the zero zone is a signal of a bearish trend and we can place a sell trade here.
Given above is 30 min chart of Bitcoin and we can clearly see that the green intersects the red line from the bottom and later stay above the red line even after crossing the middle line. So, It is the time to place the buy trade within a 20 – 30 minutes time frame.
Similarly, Given above is a bitcoin chart with 30 minutes time frame. and we can see the green line cuts the red line from the top and later the red line stays above the green line even after crossing the middle line is a signal of the bearish trend and we can place a sell trade here.
You have just attained a piece of complete knowledge on how to trade with Bitcoin and Olymp Trade. The best thing you can do today is trying this currency and strategy on the Olymp Trade trading platform. If you are facing any issues please do comment below and contact me I will surely help you as soon as possible.