Following the rise or fall of a cryptocurrency requires a good understanding of the market and specific strategies. Here are some steps that can help you monitor these movements:
1. Research and Analysis: Start by understanding the digital currency behind it – the technology, the team, and the project. Use reliable sources and economic news to analyze its potential positive and negative impacts.
2. Periodic monitoring: Use price tracking platforms or financial applications to monitor price movements throughout the day.
3. Technical Analysis: Use charts and technical indicators to understand past trends and predict future movements.
4. Monitor the news: Pay attention to important events and announcements regarding the currency, as they may greatly affect its price.
5. Determine the strategy: Develop a specific investment strategy, whether to enter or exit the market based on your analysis and goals.
6. Risk management: Determine the upper and lower limits of loss and profit. Use stop orders and target orders to reduce risk.
7. Continuous learning: The market is constantly changing, so continue to learn how to analyze the market and technology developments.
Always remember that digital markets are unstable and volatile, and there is no 100% sure way to predict their movement.