If Bitcoin moves lower and closes the 4-hour candle below 33,700, then Bitcoin will likely decline to at least 31,600. When it gets down to that level, then I'll do another post on when to go long or buy again.
yesterday when many were expecting BTC to dump. but i gave a long signal on GTC and 2nd entry was also given at 0.93 and it hit as well . now GTC is close to 1$.
Basic to-do list for taking a perfect long entry in a crypto.
Analyze the Overall Trend: Ensure the coin is in upward trend or at least a strong support.A common practice is to look at higher time frames like weekly,daily then 4 hourly charts to identify the broader trend.
Check EMA (Exponential Moving Averages): Confirm that the price is above key EMAs, such as 200 EMA,100 ema then 50 ema(for perfect entry) which can serve as a reliable support level in an uptrend.
Support Zones: Identify and draw horizontal support lines on those zones on the chart where price bounces have occurred before.This could be based on previous swing lows,horizontal support lines or trend lines.
Technical Indicators: Use technical indicators like Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) to gauge momentum and potential entry points. Look for bullish crossovers or oversold conditions in RSI as possible entry signals.
Clear Entry Rules: Establish clear entry rules, such as a specific price level( at those support horizontal lines).
Manage Risk: Determine your stop-loss level before entering the trade. This level should be set at a point where, if reached, it would indicate that your analysis was incorrect.
Take Profit: Define your take profit level.This can be based on key resistance levels above the current price. you can use Fibonacci extensions, or other technical analysis methods.( if you want a detailed information about it then do a comment below under this post.
Position Sizing: Calculate the appropriate position size to ensure you are not risking more than a set percentage of your total funds(money). This helps manage risk and keeps your overall portfolio safe. i would suggest never put more than 2 percent of your total fund. like if you have 100$(dollars then only use 2$). other then this if you have any kind of question i am here to respond all you have to do is just do a comment. and don,t forget to follow me and like this post.
REGARDS: CRYPTO_NEBULA(where the future star traders are born).