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Free Blockchain education | Digital Artist | IT Graduate | Web Developer 👩💻| Crypto analysis
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Identify Support and Resistance | Crypto basics
Support and resistance are essential concepts in technical analysis used to identify key levels in a market where the price tends to react or change direction.
These levels are often crucial for traders and investors when making decisions about buying, selling or setting stop-loss orders.
In the context of cryptocurrencies, these principles remain the same as with any other financial asset.
Support Level:
A support level is a price level where the cryptocurrency has historically had difficulty falling below. It acts as a price floor, as demand for the asset is strong enough at that level to prevent it from declining further.
When the price approaches or touches the support level, there is often an increase in buying pressure which helps the price bounce back up.
Resistance Level:
A resistance level on the other hand, is a price level where the cryptocurrency has historically struggled to rise above.
It acts as a price ceiling as the selling pressure becomes significant at that level, preventing the price from breaking out higher.
When the price approaches or touches the resistance level, there is usually an increase in selling pressure causing the price to reverse back down.
How to Draw Support and Resistance Levels:
Drawing support and resistance levels requires analyzing historical price data and identifying significant price points where the market has reacted multiple times.
Here's a step-by-step guide to drawing these levels:
Switch to a Relevant Timeframe:
Depending on your trading or investment strategy, choose a timeframe that suits your needs.
For short-term traders, lower timeframes like hourly or daily may be more relevant.
While long-term investors may focus on higher timeframes like weekly or monthly.
Identify Swing Highs and Lows:
Look for significant swing highs (peaks) and swing lows (troughs) on the price chart.
A swing high is a point where the price made a local high followed by a lower high.
While a swing low is a point where the price made a local low, followed by a higher low.
Draw Horizontal Lines:
Once you've identified the swing highs and lows, draw horizontal lines connecting the relevant peaks and troughs. These lines represent potential resistance and support levels, respectively.
Multiple Touches:
The more times a horizontal line touches the price, the stronger the support or resistance level becomes. Aim to draw lines that touch the price at multiple points over time.
Validation:
If a support or resistance level has been accurately identified, you should see the price respecting these levels on subsequent price movements. Prices may bounce off support or reverse at resistance.
Adjustment:
Over time, you may need to adjust your support and resistance levels as new data emerges and market conditions change. The most recent data points are usually more relevant than older ones.
Remember that support and resistance levels are not exact price points but rather price ranges, so some tolerance around these levels is acceptable.
Caution:
While support and resistance levels are valuable tools in technical analysis but they are not foolproof.
Market conditions can change rapidly and these levels may be broken or invalidated.
Therefore, it's crucial to use support and resistance in conjunction with other technical indicators and analysis methods for a more comprehensive view of the market.
Always practice risk management and use stop-loss orders to protect yourself from potential losses.
Trading cryptocurrencies or any other financial instruments involves inherent risks, so it's essential to be informed and make informed decisions.
These levels are often crucial for traders and investors when making decisions about buying, selling or setting stop-loss orders.
In the context of cryptocurrencies, these principles remain the same as with any other financial asset.
Support Level:
A support level is a price level where the cryptocurrency has historically had difficulty falling below. It acts as a price floor, as demand for the asset is strong enough at that level to prevent it from declining further.
When the price approaches or touches the support level, there is often an increase in buying pressure which helps the price bounce back up.
Resistance Level:
A resistance level on the other hand, is a price level where the cryptocurrency has historically struggled to rise above.
It acts as a price ceiling as the selling pressure becomes significant at that level, preventing the price from breaking out higher.
When the price approaches or touches the resistance level, there is usually an increase in selling pressure causing the price to reverse back down.
How to Draw Support and Resistance Levels:
Drawing support and resistance levels requires analyzing historical price data and identifying significant price points where the market has reacted multiple times.
Here's a step-by-step guide to drawing these levels:
Switch to a Relevant Timeframe:
Depending on your trading or investment strategy, choose a timeframe that suits your needs.
For short-term traders, lower timeframes like hourly or daily may be more relevant.
While long-term investors may focus on higher timeframes like weekly or monthly.
Identify Swing Highs and Lows:
Look for significant swing highs (peaks) and swing lows (troughs) on the price chart.
A swing high is a point where the price made a local high followed by a lower high.
While a swing low is a point where the price made a local low, followed by a higher low.
Draw Horizontal Lines:
Once you've identified the swing highs and lows, draw horizontal lines connecting the relevant peaks and troughs. These lines represent potential resistance and support levels, respectively.
Multiple Touches:
The more times a horizontal line touches the price, the stronger the support or resistance level becomes. Aim to draw lines that touch the price at multiple points over time.
Validation:
If a support or resistance level has been accurately identified, you should see the price respecting these levels on subsequent price movements. Prices may bounce off support or reverse at resistance.
Adjustment:
Over time, you may need to adjust your support and resistance levels as new data emerges and market conditions change. The most recent data points are usually more relevant than older ones.
Remember that support and resistance levels are not exact price points but rather price ranges, so some tolerance around these levels is acceptable.
Caution:
While support and resistance levels are valuable tools in technical analysis but they are not foolproof.
Market conditions can change rapidly and these levels may be broken or invalidated.
Therefore, it's crucial to use support and resistance in conjunction with other technical indicators and analysis methods for a more comprehensive view of the market.
Always practice risk management and use stop-loss orders to protect yourself from potential losses.
Trading cryptocurrencies or any other financial instruments involves inherent risks, so it's essential to be informed and make informed decisions.
PINNED
Learn how to draw Trend lines | Crypto basics
Understanding Trend Lines
A trend line is a straight line that connects two or more significant price points on a chart. The purpose of drawing trend lines is to identify the direction of the trend, whether it's upward (bullish), downward (bearish) or sideways (neutral). Trend lines help traders visualize the market sentiment and provide insights into potential future price movements.
Types of Trend Lines
Ascending Trend Lines:
These are drawn by connecting higher lows, indicating a rising market trend. Traders often view this as a bullish signal and suggesting that buyers are gradually gaining control.
Descending Trend Lines:
These are formed by connecting lower highs, signaling a declining market trend. A descending trend line suggests that sellers are in control, indicating a bearish sentiment.
Horizontal Trend Lines:
Also known as support and resistance levels. These lines connect price points where the crypto asset has historically struggled to move above (resistance) or below (support). Horizontal lines represent a neutral trend, indicating that the price is consolidating or trading in a range.
Drawing Trend Lines
When drawing trend lines on crypto charts, it is essential to identify at least two significant price points that form a trend. These points should create a straight line when connected minimizing subjectivity. The more times the price respects the trend line without breaking it, the more reliable it becomes.
Using Trend Lines in Crypto Trading
Trend Identification:
The primary benefit of trend lines is identifying the general direction of the market. This helps traders make informed decisions about when to buy (during bullish trends) or sell (during bearish trends) a particular cryptocurrency.
Entry and Exit Points:
Trend lines can serve as entry and exit points for trades. When a crypto asset's price bounces off an ascending trend line, it could be an opportunity to enter a long position. Conversely, a bounce from a descending trend line might signal a chance to enter a short position.
Confirmation with Other Indicators:
Crypto traders often combine trend lines with other technical indicators like moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence) etc to strengthen their trading decisions.
Price Targets:
In some cases, trend lines can be used to estimate potential price targets. By extending the trend line into the future, traders can anticipate levels where the price might reach and consider them as profit-taking or stop-loss points.
A trend line is a straight line that connects two or more significant price points on a chart. The purpose of drawing trend lines is to identify the direction of the trend, whether it's upward (bullish), downward (bearish) or sideways (neutral). Trend lines help traders visualize the market sentiment and provide insights into potential future price movements.
Types of Trend Lines
Ascending Trend Lines:
These are drawn by connecting higher lows, indicating a rising market trend. Traders often view this as a bullish signal and suggesting that buyers are gradually gaining control.
Descending Trend Lines:
These are formed by connecting lower highs, signaling a declining market trend. A descending trend line suggests that sellers are in control, indicating a bearish sentiment.
Horizontal Trend Lines:
Also known as support and resistance levels. These lines connect price points where the crypto asset has historically struggled to move above (resistance) or below (support). Horizontal lines represent a neutral trend, indicating that the price is consolidating or trading in a range.
Drawing Trend Lines
When drawing trend lines on crypto charts, it is essential to identify at least two significant price points that form a trend. These points should create a straight line when connected minimizing subjectivity. The more times the price respects the trend line without breaking it, the more reliable it becomes.
Using Trend Lines in Crypto Trading
Trend Identification:
The primary benefit of trend lines is identifying the general direction of the market. This helps traders make informed decisions about when to buy (during bullish trends) or sell (during bearish trends) a particular cryptocurrency.
Entry and Exit Points:
Trend lines can serve as entry and exit points for trades. When a crypto asset's price bounces off an ascending trend line, it could be an opportunity to enter a long position. Conversely, a bounce from a descending trend line might signal a chance to enter a short position.
Confirmation with Other Indicators:
Crypto traders often combine trend lines with other technical indicators like moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence) etc to strengthen their trading decisions.
Price Targets:
In some cases, trend lines can be used to estimate potential price targets. By extending the trend line into the future, traders can anticipate levels where the price might reach and consider them as profit-taking or stop-loss points.
Focus on small achievable goals, celebrate your progress and remind yourself of the reasons you started.
Seek support from loved ones and maintain a positive mindset.
Tough times are temporary and your resilience will guide you through.
Seek support from loved ones and maintain a positive mindset.
Tough times are temporary and your resilience will guide you through.
"" Sharing my experience using #CryptoTradingBots ""
Crypto trading bots are designed to execute buy and sell orders in the cryptocurrency markets based on pre-defined criteria. It can include factors such as price movements, trading volume, technical indicators and even news sentiment analysis.
Once i decided to experiment with a trading bot to take advantage of the volatile cryptocurrency market.
I just selected a reputable trading bot software and configured it to implement a strategy that combined technical analysis and market sentiment analysis. The bot was set to make trades based on these signals and had stop-loss and take-profit orders in place to manage risk.
Over a period of several months, the trading bot demonstrated its effectiveness. It consistently identified profitable opportunities and executed trades efficiently. It was also programmed to avoid over trading and stick to its pre-determined risk management parameters.
One of the most notable instances of profit occurred during a significant market uptrend. The trading bot detected the trend early and opened a series of long positions in various cryptocurrencies. As the market continued to surge, these positions resulted in substantial gains. The bot automatically closed these positions at pre-determined profit levels.
The trading bot wasn't without its occasional losses, but it consistently out performed manual trading due to its ability to operate 24/7 and free from emotional decision-making and to respond rapidly to market changes.
Overall my experience with the crypto trading bot was highly profitable. It also allowed me to diversify my cryptocurrency portfolio and reduce the stress associated with active market monitoring.
However, it's essential to note that while trading bots can be profitable but they also carry risks and it's crucial to thoroughly research and test any bot before deploying it in a live trading environment.
#DeFiChallenge
Crypto trading bots are designed to execute buy and sell orders in the cryptocurrency markets based on pre-defined criteria. It can include factors such as price movements, trading volume, technical indicators and even news sentiment analysis.
Once i decided to experiment with a trading bot to take advantage of the volatile cryptocurrency market.
I just selected a reputable trading bot software and configured it to implement a strategy that combined technical analysis and market sentiment analysis. The bot was set to make trades based on these signals and had stop-loss and take-profit orders in place to manage risk.
Over a period of several months, the trading bot demonstrated its effectiveness. It consistently identified profitable opportunities and executed trades efficiently. It was also programmed to avoid over trading and stick to its pre-determined risk management parameters.
One of the most notable instances of profit occurred during a significant market uptrend. The trading bot detected the trend early and opened a series of long positions in various cryptocurrencies. As the market continued to surge, these positions resulted in substantial gains. The bot automatically closed these positions at pre-determined profit levels.
The trading bot wasn't without its occasional losses, but it consistently out performed manual trading due to its ability to operate 24/7 and free from emotional decision-making and to respond rapidly to market changes.
Overall my experience with the crypto trading bot was highly profitable. It also allowed me to diversify my cryptocurrency portfolio and reduce the stress associated with active market monitoring.
However, it's essential to note that while trading bots can be profitable but they also carry risks and it's crucial to thoroughly research and test any bot before deploying it in a live trading environment.
#DeFiChallenge
The Future of DeFi #FutureofDeFi
Intro:DeFi, has taken the financial world by storm in recent years. It represents a ground-breaking shift away from traditional financial institutions and embraces blockchain technology to offer innovative financial services.Let's explore the future of DeFi and the exciting money-making opportunities it presents.1. DeFi's Growing Ecosystem:The DeFi ecosystem continues to expand rapidly with new projects and platforms emerging regularly. This growth is driven by the desire for financial inclusion and the benefits of blockchain technology. DeFi has the potential to revolutionize traditional financial services such as lending, borrowing and trading while making it more accessible and efficient.2. Yield Farming and Liquidity Provision:One of the most popular ways to make money in DeFi is through yield farming and liquidity provision. By staking your cryptocurrencies on DeFi platforms, you can earn interest, fees and rewards. Projects like Compound and Aave allow you to lend your assets and earn interest while decentralized exchanges like Uniswap reward liquidity providers with trading fees.3. Staking and Governance Tokens:Many DeFi projects issue governance tokens that allow users to participate in decision-making processes. By staking these tokens, you can influence the project's future and earn rewards. This combination of governance and staking can be a lucrative endeavor, especially if the project gains traction.4. NFTs and DeFi:Non-Fungible Tokens (NFTs) are another exciting intersection of DeFi and money-making opportunities. DeFi platforms enable the fractionalization of NFTs, allowing you to invest in high-value digital assets or even participate in unique NFT projects. The NFT space is highly dynamic with potential for significant returns.5. Cross-Chain DeFi:Cross-chain DeFi solutions are gaining prominence, enabling assets to move seamlessly across different blockchains. As this technology matures, there will be opportunities for arbitrage and trading between these chains, potentially yielding substantial profits.6. Risk Management:It's important to note that the DeFi space is not without risks. Smart contract vulnerabilities, hacks and market volatility can result in significant losses. To succeed in DeFi, you must carefully research and assess each project and consider risk management strategies.Conclusion:The future of DeFi is promising, with an ever-expanding range of opportunities to make money. As the ecosystem evolves, investors, traders and enthusiasts will continue to find new ways to leverage blockchain technology and participate in this financial revolution. #DeFiChallenge
It's SocialFi Season. Quick way to make money.
Buy quality shares of potential twitter profiles. It will 2x your port. Do your own research
Trading profiles is fun. Always Invest what you can afford to lose
You can join Starsarena without trading shares or any initial deposit.
Join the community, bring content to the platform and enjoy.
You will earn points for your activity and also can get tipping.
Buy quality shares of potential twitter profiles. It will 2x your port. Do your own research
Trading profiles is fun. Always Invest what you can afford to lose
You can join Starsarena without trading shares or any initial deposit.
Join the community, bring content to the platform and enjoy.
You will earn points for your activity and also can get tipping.
Be careful While Trading $TRB
Its highly manipulated and whales fav now a days.
And also its weekend when risk is 2x
Its highly manipulated and whales fav now a days.
And also its weekend when risk is 2x
It doesn't matter where the price goes.. Trade what you think is appropriate and always take profit when it satisfies you....
It's a main Rule for Day trading..
It's a main Rule for Day trading..
Seems Like Airdrop season is Back..
Who is farming some good airdrops??
Comment below
Who is farming some good airdrops??
Comment below
$AMB LONG ⚃ ( Place Limits )
Entries:
$0.008229
$0.007590
Lev: 10x
Stoploss: 4H Candle Close below $0.007192
Final Target: $0.014507 ( Will update on Tps )
Reasoning: Daily support at the same level as 1D, 50 EMA + VWAP + Trendline
Use 2% wallet size
Entries:
$0.008229
$0.007590
Lev: 10x
Stoploss: 4H Candle Close below $0.007192
Final Target: $0.014507 ( Will update on Tps )
Reasoning: Daily support at the same level as 1D, 50 EMA + VWAP + Trendline
Use 2% wallet size
MATIC SHORT♦️♦️
Entry:- Cmp or (0.5089)
Lev: 10x or 20x
SL:- 0.5165
TP1....0.5056
TP2....0.5042
TP3....0.5024
TP4....0.5001
TP5.....0.4921
You can use 2% or 3% wallet size
Note:- Always do proper risk management in future trading
Entry:- Cmp or (0.5089)
Lev: 10x or 20x
SL:- 0.5165
TP1....0.5056
TP2....0.5042
TP3....0.5024
TP4....0.5001
TP5.....0.4921
You can use 2% or 3% wallet size
Note:- Always do proper risk management in future trading
From tomorrow I will try my best to share 2 to 3 signals per Day. Inluding Swing and Scalp Trades.
These are premium signals which i'm sharing here for free.
So guys if you get profit from my Trades would you like to give Tip to me???
Minimum it could be $1, rest your choice
I'm not taking any kind of fee from anyone.
Let me know in comments👇
These are premium signals which i'm sharing here for free.
So guys if you get profit from my Trades would you like to give Tip to me???
Minimum it could be $1, rest your choice
I'm not taking any kind of fee from anyone.
Let me know in comments👇
Currently sharing limit order (swing trade) Signals so everyone could catch.
From tomorrow will try to share some scalps as well.
Stay connected
From tomorrow will try to share some scalps as well.
Stay connected
$XEM SHORT (Place Limits)
Entries:
$0.0278
$0.02989
$0.03091
Stoploss: 4H Candle Close Above $0.0314
Final Target: $0.0145 (Tps as per your satisfaction) i will also update
Reasoning: 1D 200 + 150 EMA aligned with 1st retest of resistance.
Entries:
$0.0278
$0.02989
$0.03091
Stoploss: 4H Candle Close Above $0.0314
Final Target: $0.0145 (Tps as per your satisfaction) i will also update
Reasoning: 1D 200 + 150 EMA aligned with 1st retest of resistance.
$C98 SHORT (Place limits)
Entries:
$0.1576
$0.1653
$0.1717
Stoploss: 4H Candle Close Above $0.1759
Final Target: $0.0804 (Tp as per your satisfaction)
1D timeframe, might take some time to play out fully, if filled as per the plan, it's going to be 10% / 20%
Entries:
$0.1576
$0.1653
$0.1717
Stoploss: 4H Candle Close Above $0.1759
Final Target: $0.0804 (Tp as per your satisfaction)
1D timeframe, might take some time to play out fully, if filled as per the plan, it's going to be 10% / 20%
$SFP LONG ⚃ (Place limits)
Entries:
$0.5250
$0.4970
$0.4735
Stoploss: 4H Candle Close Below $0.4634
You can TP according to your satisfaction. (I will update also)
Final Target: $0.8625 (New Local Top)
Reasoning:
$SFP is doing good than all other altcoins, and we have seen with $RUNE also that any opportunity with a dip is good one to long with alts outpacing the whole market.
It would take some time but if we are able to catch, it'll be an easily 10% 20% in a matter of hours.
Entries:
$0.5250
$0.4970
$0.4735
Stoploss: 4H Candle Close Below $0.4634
You can TP according to your satisfaction. (I will update also)
Final Target: $0.8625 (New Local Top)
Reasoning:
$SFP is doing good than all other altcoins, and we have seen with $RUNE also that any opportunity with a dip is good one to long with alts outpacing the whole market.
It would take some time but if we are able to catch, it'll be an easily 10% 20% in a matter of hours.
Web3 is full of new opportunities everyday.
Many new projects are coming with airdrops.
You just have to Grind It. and who don't love Free money??
Currently i'm farming these Airdrops
1) Tipcoineth
2) friend3AI
3) PostTech
Friend3 invite codes:-
friend3-6a57daed
friend3-b750fb73
friend3-198a76ad
Many new projects are coming with airdrops.
You just have to Grind It. and who don't love Free money??
Currently i'm farming these Airdrops
1) Tipcoineth
2) friend3AI
3) PostTech
Friend3 invite codes:-
friend3-6a57daed
friend3-b750fb73
friend3-198a76ad
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