📈 🎴NEVER BUY ON ROUND NUMBERS 🎯

This post will be relatively technical, but it will teach you a lot and greatly help you understand the market. Read it carefully and reread it if everything is not clear in your mind. 📚🔍

📈Many of you probably use "Limit" orders to buy or sell your cryptos. For those who don't know, "Limit" orders allow you to buy or sell automatically at a certain price. For example, if you want to sell 1 BTC at $68,500, you place a Limit sell order at $68,500, and it will automatically sell your BTC when it reaches that price. 💰⚙️

But what you need to understand is that you should never place Limit orders at round numbers like $70,000, $75,000, or even $75,500. When you do this, you are doing what a lot of people do, which is placing your orders at key psychological levels, and therefore at these levels there are a lot of people selling. This means that your order is drowned among thousands of other orders, and therefore it takes a lot more money to fill your order. 💡🔢📊

✏For example: imagine there are 1,000 BTC for sale at $70,000. This means that 1,000 BTC need to be bought from these people to fill all the orders. However, 1,000 BTC is a significant amount: there is very little chance that there will be 1,000 BTC available for purchase at this level. Now imagine that you place your order at $69,999: this doesn't change much for you, but you will not be drowned among all the other orders, and therefore you have a much better chance of your order being filled. 🌊

🖌Feel free to ask your questions in the comments if it's not clear enough. 💬❓

🖍This post represents my personal views. 🗣️

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