Did you know that in the crypto world, not all investors may buy Bitcoin at the same price? Similarly, it is impossible to sell at the same price. Every crypto trader has his own entry and exit position. This is the reason why the market fluctuates, and BTC price has ups and downs.
The trading market requires survival instinct. Without discipline and practice, trading will become a nightmare for you. If you don’t know how to trade, learn bit by bit, practice some trading, and perform a lot of back testing. Maybe you will encounter too many problems no matter, but keep practicing until you have a solid foundation.
Did you know that in the crypto world, only two mind states always disturb traders a lot?
- If I will buy it, it will fall.
- I don’t think it will rise again.
The overall daily chart shows us that Bitcoin prices fluctuate between the $90,000 and the $110,000 range. If you want to plan a mid-term long position in Bitcoin. The best strategy is to wait patiently until the Bitcoin fluctuates sideways for some time. If the moving average of the daily chart overlaps, or you can find the golden cross, then you will find the entry position. In other words, wait and verify if the downward trend line is going upward and break through the previous position.
Moving average
Moving averages are the best tool to determine the entry and exit positions. For example, if you want to plan short-term trading, then wait patiently for the daily chart to return below the 15EMA moving average.
If you have found that the BTC price on the 50MA moving average is being crossed up and down. The BTC price pattern is in convergence and oscillation at the top. Remember, don’t rush; just wait patiently for more signals to confirm the direction.
Now, change your time frame to four hours; you can find that the chart shows a bullish trend. This time, it is more difficult to decide on both long and short positions to participate in. If you go short; it means you are fighting with the trend near the bullish strong position. If you want to trade, wait until it continues to fluctuate sideways. Thanks for reading.
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