I am going to present some ideas that could help you make accurate predictions in this exciting world of trading.
It is possible that many experienced traders will disqualify my ideas and observations, but perhaps someone tired of losing money will find this useful.
As we all know when we trade, we seek to buy as cheaply as possible (just or very close to the support and sell at the next resistance or even beyond) to gain profit from the price difference.
Up to that point, everything is going well, the problem lies in that many times we buy, we get tired of waiting, and the coin does not rise as we expect. This is frustrating, we set the plan aside and sometimes sell at a loss, buy another coin, and one or two days later, the long-awaited bomb we were waiting for explodes, unfortunately, we bought another coin, we gain nothing because we sold it, and now we are stuck in another coin that is not rising either, which causes us great frustration.
That's how it works, friends, this world is exciting, addictive, but it's a game where only the most skilled and experienced win.
Observing the 1-day chart
Look at the 1-day chart of any cryptocurrency, locate one with an upward trend.
I obviously recommend using technical indicators like the Rsi, which can help complement this information, the trading view app, in addition to comments from the community of experts.
Basically, I focus on observing the 1-day chart. In this chart, I observe the last time the coin reached its highest point and start counting the candles that are produced from the highest candle. Since it's the 1-day chart, obviously each candle forms in one day.
In the next example, I counted 7 candles, just on candle 8, the price shot up again. Interesting, right?
Here I leave you another example...
This allows me to reach a very simple conclusion: a coin takes approximately 7 or 8 days to try to reach or exceed its previous resistance based on the 1-day chart.
Read the previous paragraph again and analyze it calmly.
After reaching or trying to reach its previous price, the coin starts to drop until it stabilizes, correcting its price. (because everything that goes up, must come down)
These observations are based on an upward trend
Once you study your 1-hour chart, have done your research on trading view, have read comments in the forum, and feel confident and convinced about your plan, ready to buy.
You may find a bomb.
Remember that to buy, you should use the 5-minute chart with the Rsi indicator at its lowest or close to the lower band.
Remember not to chase coins when they are rising, unless you know what you are doing.
This is not investment advice, these are just the exposure of my ideas, I am just a common curious user like you, trying to learn a little about this exciting world. I may know a lot about numbers, but trading here requires a lot of experience and knowledge, so educate yourself by watching videos on YouTube and receiving good suggestions, remember that you are the only one responsible for the decisions you make.
Greetings and much success!
