If you are new to the world of crypto, here are some important trading strategies to keep in mind:
1. Focus on buying dips rather than sharp rallies, as selling should be consistent with peak market conditions.
2. A gradual and steady rise indicates sustained growth, while a sharp spike often signals an upcoming exit opportunity.
3. After a sharp rally, expect a pullbackâavoid overbuying when the price drops too sharply.
4. A sharp rise is often a sign of an impending topâsell quickly on a sharp drop, but take it slow on a slow rise.
5. A sharp drop without increasing volume can be misleading, while a slow drop with increasing volume indicates it is time to exit.
6. If the price breaks through key support levels, don't hesitate to take advantage of short-term price movements.
7. Pay attention to daily and monthly trends and watch for key factors when establishing a position.
8. If the price is rising without a spike in volume, this is often a tactic to attract buyersâdon't fall for it.
9. New lows on decreasing volume can indicate a market bottom, so consider entering when the recovery shows signs of strength.
By mastering these techniques, you will be better equipped to navigate the volatility of the crypto market.
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