Here's a tip to succeed in the crypto space:
Avoid buying at round numbers! 🚫
It might sound a bit complicated, but it's worth understanding to improve your market knowledge. Take your time to read through it, and if needed, read it a couple of times.
Many of you probably use "Limit" orders for crypto transactions. For those who aren't familiar, "Limit" orders automatically execute trades at set prices. For example, if you want to sell 1 BTC at $68,500, you'd set a Limit sell order at that price, and your BTC sells when the price hits $68,500.
Here's the deal: **never** set Limit orders at round numbers like $70,000 or $75,000. By doing so, you're falling into the same trap as many others—placing orders at psychologically significant levels where tons of people are selling. As a result, your order may get lost among others, requiring more money to fulfill.
Let's break it down: imagine there are 1,000 BTC up for sale at $70,000. That's a large amount to buy. Realistically, it's unlikely that all 1,000 BTC will be available at that price. Now, consider this: set your order at $69,999. It's just a dollar less for you, but it makes your order stand out from the crowd, increasing the chances of it getting filled.
This strategy applies to all cryptocurrencies and any round number.
Questions? Feel free to ask in the comments! I'm here to help clarify.
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