WHAT TIME IS BEST TO OPEN LONG TRADES?
When it comes to the cryptocurrency market, everyone tends to forget that time is everything.
You often assume that the number of times you enter the market is a sign of profitability. Profitability is the exact opposite of this. Profitability is actually measured by how often you join the market with patience and precision rather than by how many times you enter the market overall. One illustration of this might be. You enter Bitcoin at a 70K price and make ten long buys before it declines. You immediately thought of a negative outcome. However, you made up to 64K in profit from that one well-timed and well-calculated trade at the 49K price of Bitcoin. This implies that you can enter the market and make money quickly. Rather, you must compute and timing your entries before proceeding.
You immediately thought of a negative outcome. However, you made up to 64K in profit from that one well-timed and well-calculated trade at the 49K price of Bitcoin. This implies that you can enter the market and make money quickly. Rather, you must compute and timing your entries before proceeding.
ONCE YOU SPOT THESE SIMPLE FORMATIONS (YOU'RE IN FOR A RIDE!)
There are many traders who have noticed these but couldn't explain what these formations really mean.
I'll help you learn it in easy manner.
Formations of these kind have a reasoning/logic behind them. The candlestick movement from the very bottom that you can see are divergences formed when buyers meet sellers at the bottom. Once you've found yourself identifying formations like this. Check the following. Has this token been sitting on this level for a long time? If they have been, that means it keeps on failing to swing lower than its current price and tendency is it will swing higher instead for it to test resistances. Always remember, for every time a token hits a support and it keeps bouncing. Will also have a corresponding number of possible testing of resistances until it breaks through. That's why these formations will be a great help to achieving the satisfactory breakout that everyone is looking for.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.