Sideway Market: Opportunity to Learn and Accumulate Experience
The cryptocurrency market has been in a sideway trend for over 3 days, with prices fluctuating within a narrow range without a clear upward or downward trend. So what is the peak? What is the bottom? This depends on you. This is an opportunity for you to practice and improve your trading skills instead of just waiting for the market to break out.
What to do during the sideway phase?
1. Basic Technical Analysis:
This is an ideal time to familiarize yourself with tools such as support and resistance lines, or popular indicators like RSI and MACD. The small fluctuations make it easier for you to recognize price patterns and understand market volatility better.
2. Small Retail Trading:
Trading with small volumes allows you to test strategies without too much risk. For example, you can apply the method of "buy low, sell high" when prices hit support or resistance levels.
3. Building a Strong Mindset:
The sideway market often makes traders easily lose patience and make wrong decisions. Practice calmness and emotional control to better prepare for significant opportunities in the future.
Conclusion
The sideway phase is a great time to learn and accumulate experience. Take advantage of this time to test strategies, improve skills, and get ready for a volatile market ahead. Success lies in your own decisions!