On Binance or any other trading platform, the timing of buying and selling depends on your strategy and investment goals. Here is a useful summary:
When to buy?
1. On a dip:
Buy when the price of the coin drops significantly, especially if you believe in its long-term potential.
2. Before positive news:
If there is expected news (such as partnerships or technical updates), it may be a good time to buy.
3. On a resistance break:
If the coin breaks a strong resistance level after a period of stability, this may be a sign of an upcoming rise.
When to sell?
1. On target profits:
Set a satisfactory profit percentage (e.g. 10%-20%) and sell when it is reached.
2. Before negative news:
If there is an expectation of bad news (such as legal cases or a decline in the market).
3. On support break:
If the price drops and breaks a strong support level, it may be an indication of a larger decline.
Additional tips:
Use technical analysis: Monitor indicators like RSI and MACD to determine entry and exit points.
Risk management: Don’t invest more than you can afford to lose.
Automated trading: Use orders like Stop-Limit and Trailing Stop to ensure that your buy or sell trades are executed automatically.
Finally, the timing of buying and selling depends on your goals and strategy, whether you are a long-term investor or a day trader, studying the market and sticking to a specific plan is key.$ETH
