The importance of monitoring basic technical indicators 👀
The averages simply give you an idea of whether the price performance of this currency is better than its previous performance or not. I mean, if we put the simple average MA and chose the average number 20, that is, give me the performance of this currency compared to its last 20 candles, was the performance better? (Do you want to see the currency price above the average) or worse? (At that time, you want to see the price of the currency lower than the average.) The larger the interval and the larger the reading of the average gives you a better reading, meaning the average of 200 over a monthly interval is stronger than the average of 10 over an interval of half an hour. Simply and quickly, keep this information in mind 1️⃣ Do not trade in a currency that is lower than its average. Monthly or weekly, especially on large averages of 50 and above 2️⃣ The ideal situation for the averages is to be arranged in the correct form, meaning that at the beginning you get the 200 and above it the 100, then after that the 50 until you reach the price, and this is the ideal situation for the 3️⃣ averages. The price, whether it likes it or not, must revisit the averages and often bounce back from them in order (note the attached picture For Bitcoin) 4️⃣ In the attached picture for Bitcoin, I put my settings for the MA 20 50 100 2005️⃣ Notice how it rebounded after touching them, and I expect the next correction to visit and touch the MA 2006️⃣ Averages are considered moving resistances or supports (depending on the price location) 8️⃣ Averages and indicators are important, but they are never a substitute for technical analysis in The attached picture is the status of Bitcoin $BTC . Look at its respect for the averages. For your information, we are at the monthly interval. This is the first time in a year with #BTC on it. It closes in two cases: 1 - A green candle above the 10,202 averages - It swallows negativity for more than 15 months. I expect it to return to testing the 100 average after a short upward wave, I swear. I know, make averages one of your filters and initial research. May you always be kind 🌹
Oh God, make it a witness page for us, not against us:
General tips:
1- Do not follow the page with the highest profits and the most losses, and avoid emotion 2- The amateur is the one who only gets excited about green candles and is afraid about red candles 3- Be close to the official #بايننس pages to know the latest developments in the currencies in which you invest. 4- Make sure your information is correct and do not pay attention to FOMO 5- Do not ever think that it will enable you to profit with all your capital, so divide your income and activate the concept of “emergency cash” at all times. 6- Keep in mind that more than 80% of traders leave after the first 3 years of trading, due to failure to control trading behavior (FOMO, chasing green candles, vindictive feelings) 7- Building assets, concentration, and patience in the right currencies is the basis of any wealth 8- We are facing a new industry and new concepts, which sometimes do not apply to the second financial markets, so you must increase your culture with them. 9- Technical analysis is not everything 10- Always remember three things that come suddenly: Death, written fates, and the bear market
Let's build centers and assets 💪🏻 🔥 We will have sustenance, God willing