How Do I Draw BTCUSD Trend Lines for Intraday BTCUSD Trading?
How to Draw Bitcoin Trend Lines for Intraday Bitcoin Charts
Examples 1: How to Draw Upward Bitcoin Trend Lines for Intraday Bitcoin Trading
To draw an upwards bitcoin trendline on a cryptocurrency chart use 2 support points in a bullish upward bitcoin trend so as to plot the upward bitcoin trend line & then extend the bitcoin trend line as shown below. Upwards bitcoin trendline on a cryptocurrency chart will show the general direction of bitcoin trading prices & as long as bitcoin trading price is above this upward bitcoin trend line then the upward bitcoin trend will remain intact - bullish up btcusd trend.
If bitcoin trading prices move below the intraday crypto upward bitcoin trend line which is the support level for the bullish upward bitcoin trend then cryptocurrency traders should close all their open cryptocurrency trades - because this might be a cryptocurrency trend reversal signal. In an upward bitcoin trend bitcoin trading price should generally stay above the support area which is marked by the upward intraday bitcoin trend line.
How to Draw Bitcoin Trend Lines for Intraday Bitcoin Trading - Up Bitcoin Trend Line
How to Draw Upwards Crypto Trend Lines for Intraday Crypto Trading
Example 2: How to Draw Downward Bitcoin Trend Lines for Intraday Bitcoin Trading
To draw a downwards intraday bitcoin trendline on a cryptocurrency chart use 2 resistance points in a bearish downward bitcoin trend so as to plot the downward bitcoin trend line & then extend the bitcoin trend line as shown below. Downward bitcoin trendline on a cryptocurrency chart will show the general direction of bitcoin trading prices & as long as bitcoin trading price is below this downwards bitcoin trend line then the downwards intraday bitcoin trend will remain intact - bearish down btcusd trend.
If bitcoin trading prices move above the downward bitcoin trend line which is the resistance level for the bearish downwards bitcoin trend then traders should close all their open cryptocurrency trades - because this might be a cryptocurrency trend reversal signal. In an downwards bitcoin trend bitcoin trading price should generally stay below the resistance area which is marked by the downward intraday bitcoin trend line.
How to Draw Bitcoin Trend Lines for Intraday Bitcoin Trading - Down Bitcoin Trend Line
How to Draw Downward Crypto Trend Lines for Intraday Crypto Trading
How to Draw Bitcoin Trend Lines for Intraday Bitcoin Trading in MT4
The MT4 platform provides charting tools for drawing the bitcoin trend lines on cryptocurrency charts. To draw intraday bitcoin trendlines on a crypto chart, cryptocurrency traders can use the bitcoin trendline plotting tool provided in MetaTrader 4 software that is shown below.
How to Draw Crypto Trend Lines for Intraday Crypto Trading on MetaTrader 4
To draw bitcoin trendlines on a cryptocurrency chart - just click the bitcoin trendline drawing tool above on MetaTrader 4 technical analysis software and select point A where you want to start drawing and then point B where you want the bitcoin trend line to touch. You can also right click on the bitcoin trend line & on the bitcoin trend line properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the bitcoin trendline, then uncheck this option in your MT4 platform. You can also change other bitcoin trend line properties such as color and width on this bitcoin trend line property popup window of the bitcoin trend line properties. You can download MT4 cryptocurrency trading & learn how to draw bitcoin trend lines with it.
