Did you want to make money in crypto trading? Do you know how to use the trading platforms? Are you familiar with charts and graphs? If your answer is yes, then it’s easy to make money in the crypto world.
Step 1: First check the below Bitcoin graph for 4 hours.
What we are interested in is finding the trending line. During a trading day, there are only three possibilities: rising, sideways, or falling. The 4-hour chart gives the big picture, and you can understand the general trend easily. If the prices go up, we are taking only long positions, and if the prices go down, we will wait for further fluctuations.
Before entering the crypto world, you also learn what the resistance lines and support lines. Because these are essential to enter into the crypto world.
Step 2: What you are required to do is to find the key position to enter. For better profitability, the starting point, or the position near the resistance, is most suitable for trading, but you never open the position until you have found a clear signal.
Step 3: By looking into the 15-minute chart, when the Bitcoin market reaches the bottom, a signal appears, which you can see in the below chart.
Step 4: The real reason for Bitcoin trading is to make money, and therefore you need to know how much you will hold and whether going long or short is essential.
Step 5: If the Bitcoin moves up and rises again, you are profitable, but if the Bitcoin moves down because of any market concern, you should place your stop-loss order slightly up from the resistance line.
In summary, a 4-hour time frame gives you the big picture. You well understand in which direction the market is moving. It depends on your situation; you can take long and short positions. In case of the wrong signal judgment, you always use the stop loss for emergencies.
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