IF YOU CAN SEE WHAT THE 0.99% SEES ON THIS CHART (CONGRATS!)
Are you the type of trader who reacts only to what he/she can see in the market? That's fine. Although, checking on possibilities and picturing them in your mind isn't bad as well. In fact, it'd be considered as a great perception.
Gaining a skill such as being perceptive will surely give you the benefit you need in the crypto market.
Here's why.
As what you can see in the chart, the overall market structure for this token is experiencing decline. This decline has been for more than 7 months now. For this particular token, getting 7 months worth of decline will already be considered as a total oversold status. If you also measure the correction shown by this token, you can see that there are way too less bullish sentiment that has been provided inside the 7 months timeframe. Always remember 'too less' and 'too much' are both bad for you. If you have the opportunity to never disregard a 'too less' or 'too much' then, use that opportunity. Now, let me show you. Check for an opposite chart than this one is having. Look for a token that have more bullish candlesticks than bearish candlesticks. It would also be best if it's almost identical in measurement with this chart. Now, review the 'too less' or 'too much' of the candlesticks present. As there are more bullish candlesticks on the token you're looking at, the chance for reversal will become clearer. Those 'too much' bullish candlesticks and 'too less' bearish candlesticks will soon have their own 'reversal points'. Turning those 'too much' bullish candlesticks into too less and same goes to bearish candlesticks turning into 'too much'. That's how you can easily understand chart patterns like these.
#ARB MARKET STRUCTURE HAVE PROVIDED 8.97% PROFIT AND CAN CONTINUE TO DO SO: A TRICK FOR NEW TRADERS
If you're looking for any new tricks that you can apply in the crypto market. Then, you're in the right place.
The world of cryptocurrency is vast and there are opportunities everywhere you look. It all depends on how well you take the opportunities presented. Now, since you're looking for new tricks, let me you one. This trick applies to everyone, may it be newbies, struggling traders and as well as veteran traders. Common strategies used by most would be entering at the current market price and expecting the prices to increase for their long positions and expecting the prices to decrease for their short positions. With this trick, you can enter the market at the best possible position at a certain period of time. Imagine yourself thrifting clothes and everywhere you go they are cheap, although, you still try to look for the cheapest possible thrifts. You find yourself buying clothes for $5.99 each and other thrift stores sell for $9.99 each. You were able to bargain these clothes you've found but as you ask one of your friends on how much their new clothes are. You've found out that they bought it for $3.99 and you became disappointed since you could've bought it for at least $2 less than the market price you've bought your clothes with.
Now, if you apply this to the cryptocurrency market, there are times when you enter the market right away without thinking of the next possible least price.
Let's take ARB as an example.
There are those who bought ARB at the price of 0.0749 which is not yet a discounted price of ARB. Take a look at our entry, we have made this entry at 0.4715 which is 24.49% down from the 0.0749 that most traders would've bought ARB with. Thus, this assisted us in gaining 8.97% at ease and without worry. So, every time you think that you're already buying at the cheapest possible price, you must think that there is 'someone' else buying these assets at an even lower price than yours.
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.