Binance offers a Copy Trading feature that allows users to automatically copy the trades of more experienced traders, making it easier for beginners to participate in the market. By using this feature, users can automatically execute the same trades as their chosen Lead Trader, without needing to constantly monitor the market.
As of May 2024, Binance Copy Trading is available for Spot and Futures markets in selected locations. These products can be particularly useful for novice traders who wish to learn from seasoned traders or for those who prefer a more hands-off approach to trading.
How Binance Copy Trading Works
1. Selection of traders
The first step in using Binance Copy Trading is to select a Lead Trader to copy. Binance provides a list of Lead Traders, each with a detailed profile that includes their trading performance, strategies, risk levels, and historical data. This information helps users make a more informed decision when choosing a trader to follow.
2. Automatic execution
Once a user has selected a Lead Trader to copy, all of the trader's future trades are automatically mirrored in the user's account. This includes opening and closing positions, as well as adjusting stop-loss and take-profit levels. The automation ensures that users can benefit from the trader's expertise without having to manually execute each trade themselves.
3. Control and flexibility
While Binance Copy Trading automates the trading process, users still retain control over their accounts. They can adjust their copy trading settings, such as the amount of capital they wish to allocate or the ability to stop copying a trader at any time. This flexibility allows users to manage their risk and investment according to their preferences.
$BTC Bitcoin has broken the $70,000 level and is now testing the major resistance area, signalling a heated market for the next big move. An FOMO pump is expected after BTC breaks above the $72,500-$73,000 area.
Over the past 24 hours, the price of the Bitcoin showed positive dynamics. But the changes on the chart are ambiguous.
According to my forecast, the price finally broke the pattern "squeeze" â . It was expressed in the form of a "triangle with a flat bottom", the upper boundary of which was broken.
Now to break the downward movement, the price needs a break of the mirror level at ~$69,300 đ, acting as resistance. So far, the breakdown turned out to be false, but we may see more attempts.
Going forward, I am quite bullish on Bitcoin. It only needs a breakdown of the nearest level đŒ to start growing.
These fluctuations are outside of technical analysis and depend on the fundamental news of a project.
The price has decreased by more than 35% since yesterday and #Binance đž will delist #Waves đč in few days
The current support level that can be considered for the price is $1.540-$1.300. We recommend not to get involved in the fluctuations of this currency and stay away from it.
Price is currently trading within a triangle pattern, and we are approaching a crucial decision point. The breakout of this triangle pattern will determine the next market movement. A breakout in the upward direction will likely push the price towards the next resistance area. Consider opening a small long position at the support area with a tight stop loss.
$MATIC is approaching the decision zone of the triangle, which will determine its next move. The resistance level remains unchanged, and we will wait to see if the price can break above it. Currently, this is not a trade zone, so waiting for some time is better.
$ETH is currently holding the support area, indicating a positive trend. There might be some accumulation before the next upward movement. If you missed entering earlier, consider opening a long position at the support area.
Now quick Reversal from the long accumulation zone with significantly volume. RSI oversold in longer time frames.It's also Whales Favorite coin looks like it's ready for a parabolic move now. We are expecting big pump. Worth buy for immediate short term quick profits. This is Whales đ preferred coin which always move faster.
The price has broken out of the larger falling wedge pattern in an upward direction, and now a smaller falling wedge pattern has formed on the daily time frame. We should wait for a break above the resistance area or a test of the support area before considering new entries.
SHIB kissed the support trendline and the price bounced from there. If you have opened long positions at the support line, increase your stop loss and hold the position. We may see a move towards the resistance area now. $SHIB $BNB $BTC
Let's consider the 4 hours timeframe of the Fetch AI token chart. There may be an upward price reversal here.
On this timeframe, we see a similar situation to Bitcoin. There is a rather graphical pattern "price channel" đ, which is strongly stretched in time.
There are almost no chances for this formation to work out downwards, and accordingly, to reform into the pattern "bearish flag" đ». It is most likely that the price will move up gradually.
For now, I expect price movement from the lower boundary of the channel to the upper one. Additionally, it will be confirmed by a break of ~$2.2 resistance đ
The price of the Bitcoin showed negative dynamics. However, the bulls have already managed to win it back upwards.
The previous "squeeze" structure finally broke. Now the price has gone sideways between the levels at ~$67,200 and ~$71,400.
The main support here is the ~$67,200 mark. Above it, we see the formation of another bearish "squeeze" structure, this time in the form of a "triangle with a flat bottom" pattern đ». However, it has no additional confirmations. The upper boundary lies on more than one trendline.
Also from my experience, I can say that this pattern in a similar situation is broken sideways or up đ