First of all, if you buy spot goods for a long time, the holding period is relatively long, which should be measured in months, and the period you look at also needs to be larger.
Before entering the market, we need to analyze the current real-time trend to decide whether to buy now, or whether it is worth buying.
Let's do the first step of trend analysis
Like this altcoin
The trend is relatively simpler and not so complicated
The white line is an upward trend
The 2 white boxes are trend pullbacks
Now it is more inclined to the end of the trend correction, and when the daily line closed today, it closed with a very good bullish trend K
As for whether the market will continue to move in the trading range or break upward in the future, it is impossible to give a definite answer, but at least at the current position, you can try or buy the bottom with a light position.
Whether to buy if the price moves out of this range or to increase your position after breaking through is the decision to be made.
Let's look at it from the perspective of the smaller 4-hour moving average.
It is still in a short position arrangement and there is no long position arrangement yet. Right-side traders can wait a little longer.
We all know that the moving average indicator is lagging and it is difficult to change once it becomes a trend.
Then you can wait for the price trend at the 4-hour level, and consider intervening when the moving average indicator is completely bullish.
Relatively more stable.
The above is the complete analysis, and some pertinent suggestions are also given to help you choose the style that suits you.
The above does not constitute investment advice, and you are responsible for your own profits and losses.
Finally, here is a picture of the news about this currency
I am Coach Panda, who is good at explaining complex issues in a simpler way. See you in the next post.