Analyze First
When you see the market is in an upward direction, it is always based on Bitcoin. For example, if the trading volume of Bitcoin is significantly greater, it means other coins will show the same result. For your short-term trading journey, target those coins that have a market value in millions.
Moving averages
MA can greatly help you in short-term trading. You can use 10, 20, and 30 moving averages and predict the result. Remember, whatever type of analysis you are going to perform, first test on BTC and then on your coin. During BTC analysis, if results look like they’re moving upward and continuously setting new highs, it is the best time to invest in altcoins. Most importantly, you must know that the short-term trading yields 5%-10%, and the middle 50%. You can also use the M10 moving average for a stop loss.
How to do
When MA (5, 10, 20) shows bullish signs and BTC is continuously greater than 5%-10%, even if the MACD formed a death cross. Keep watching until MCAD pulls back again and makes a golden cross. It is also possible at this time the volume looks low. Enters the market when the 60-minute MACD turns golden again. If you can catch the sharp rise, your winning rate is more than 5%.
How to maximize the earning
This year meme coins will have an extraordinary impact; many people blindly invest in these coins. However, from the perspective of trading, fundamental analysis is necessary, but in the crypto world, many meme coins have nothing to give you. Always open your order when the volume is approaching sky-high. Take 5%-10%, and do not fall into the greed. If you achieve your target, then exit from the market.
Judge your selection.
- Pay more attention to trading volume; if it falls, it means the trend will be reversed.
- If the trend continues to exceed 5%, it is an indication that the main force is active.
- If the prices rise with large volume and suddenly sideways and increase gain without heavy volume, it means the prices are manipulated.
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