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When analyzing Bitcoin price charts, both long-term and short-term strategies are crucial for identifying trading opportunities. Long-term analysis focuses on broader trends and factors like adoption and regulation, using weekly or monthly charts. Short-term analysis, on the other hand, relies on daily or hourly charts and technical indicators like RSI and moving averages to spot entry and exit points.
Trade blotters, or trading logs, can be used to track these strategies, recording key levels like support/resistance, indicator signals, and trade entries/exits. This documentation ensures you can review past decisions, spot patterns, and improve your future trading strategies. Platforms like TradingView and CoinMarketCap offer reliable charts and data for monitoring Bitcoin price developments, while staying updated on news can help inform real-time decisions.
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