If you are new to the cryptocurrency market and haven’t noticed this rule. Let’s discuss this.
There are many traders who are fooled by the misconception that no one else will think of buying low and selling high every day. Therefore, most of them trade on a minute or hourly basis. This is not a mistake or a bad idea. However, one thing that can go wrong with these types of setups is overtrading. Someone who trades without checking the daily high and low is likely to fall into the trap of trading more than 20 times a day, which is not normal for a beginner trader. So, to make it easier for beginners to understand. We can refer to the realistic approach to daily high and low with this rule. Always remember, by 11 am EST, there are instances when the market will flip. Often when the market is flat, the volatility will be less because there will be just movement from the daily high and low. So every time the market flips by 11 am EST, the tendency is that it will continue to do so until the next 11 am. If it does not, then expect no flip that day. Therefore, it is better to check the daily high and low to understand which areas it would be better to enter.
These posts are for educational purposes. To guide people who may still be struggling in the cryptocurrency market, those who are new to the environment and volatility, and anyone who needs it.
Be wise, trade cautiously.
