THERE ARE PLENTY OF SIGNS WHEN AN ALTCOIN SEEMS TO BE BREAKING OUT! (GREAT READ)
Are you one of the traders who only enter a trade when the crypto market is highly surging?
That's fine, it's pretty normal since most traders would do the same since its the trend that the market provides.
Although, do you know that there is a better way for you to do the trades rather than entering it when its surging?
Let GP explain it to you directly.
The altcoin that is our main topic for today is APE. This altcoin has skyrocketed from 0.482 to 0.877 in just 35 days. This is almost 100% of its lowest value and we also think that APE could maintain prices from its bottom until it reclaims its major support from 2023. Although, right now, as this altcoin is accumulating its strength. We have expected the price to be rejected at 0.818-0.987 and an even strong rejection at 1.205. Having this in mind, we will continue to observe APE's possible breakout of these resistance levels. Since we highly believe that these rejection areas will become the catalyst for buyers to continue looking for discounted prices of APE.
Now, how can traders avoid being trapped near the rejection areas especially on a surging altcoin? It's simple, be patient. You don't have to be an expert trader to be patient. Just take a look at the chart, take a deep breath and say, congratulations to the ones who entered at the bottom. Now, I'll wait for an opportunity in case it corrects and at that correction level I'll take trades with 0.5% from my total capital. That's how traders become great at trading in the crypto market. They don't blindly follow a surging market. Instead, they play it safe with more precautions set in mind and be composed.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
