🚨WARNING Never fall for this trap !!!!
Always check this each time before you trade
I hope everyone is well aware about the recent crash in the crypto market which took down $BTC to 35,000 $ giving a massive loss to all investors. The whole market was down by 20-30% with all tokens dropping significantly, Many traders had losses which were too far from recovery. Now the market is repeating the cycle once again. Here is what you can do to avoid losses & earn significant profits.
Always make sure to check the market trend before deciding to take a position.
Never go against the market trend, even if you clearly see a different trend on the individual chart,going against the market trend will definitely result in loss, check the market trend for additional confirmation before placing the trade.
If the market shows a normal trend follow the trend of the respective charts, if market occupies a specific trend, strictly consider market trend above any individual chart trends.
When the market is bullish, avoid trading on bearish patterns, since the market & the individual chart patterns are opposite, this creates an uncertainty in the price movement. Taking positions on such charts might lead to loss.Identify charts with continuous/smooth patterns, trading on high volatile tokens may initially have favourable price movements, but there are high chances that they hit your SL before moving in the desired direction.
Strictly maintain your SL & never try to catch trades on trend reversal. If the market is bearish, only 'sell',never 'buy'.
Be aware of the false breakouts that occur reversing the direction of the priceflow, Do not enter the trades immedeatly, Turnaround or Price reversals are only possible when the whole market trend tends to reverse.
Bonus Tip
In case of sudden change in market trend, take as less trades as possible, Use SL slightly more than usual to protect yourself from high price fluctuations in the changing market.
