I want to talk about a cryptocurrency trading strategy that will make you a ton of Bitcoin in 2018 and it’s a really a simple one.
If you want, you can try to implement what you learn in this article, and then try to get results with it. Then you can give me feedback in the comments about how your trading week has gone. You can watch the video below to see the exactly what to look for, but I’m giving some insights, too, so make sure to read the quick cryptocurrency trends article.
Trade in Bitcoin to make Faster Gains in Cryptocurrency
First, if you’re new to cryptocurrency trading, then use the #1 learning resource for cryptocurrency trading from the pros.
You can go over to TradingView because that’s where you can see most of the charts it’s free to check out the charts there. I used to use Binance to trade on and for a bit and other cryptocurrency trade exchanges but for most of the coins that are on here I use TradingView to use the indicators and all that good stuff to see where the market is going.
I trade in Bitcoin and not in dollars because you know if the Bitcoin rises faster then you could be making gains in dollars but not in Bitcoin. I would like to make gains in Bitcoin, because I think that Bitcoin will continue to go up while the dollar will continue to go down. So that’s why I trade in Bitcoin.
Look for the support and resistance when crypto trading
What we’re looking in cryptocurrency trading is a real simple support and resistance and if you look at the charts you will always see that the graph goes with ups and downs and they constantly move in between support and resistance. You’ll see a bouncing up hitting resistance bouncing back not crossing support and keeping between the lines. Sometimes it crosses resistance then it’s going to look for a new resistance and then it’s gonna come back down and find a new support and basically, here you can draw out the support line.
What I want to look for is a new place for resistance and see if it’s gone to come down and find a new support. It’s really simple to look for triangles on TradingView, and you will make some profits with this indicator. Because these are usually bigger breakouts, so you can make some good profits. Just ride the cryptocurrency wave all the way all and then you can basically choose the exit strategy.
Some people say you never sell the peak but always look for confirmation. I always look for the moving averages. But who knows. Obviously, we cannot predict the future, but we can always look for trends and the beautiful thing about trading is that everybody is trying to look for a trend.
Know the Principles of Bitcoin and Cryptocurrency Trading
And there are certain principles that every professional cryptocurrency trader looks at and then it kind of creates a self-fulfilling prophecy. That is what we’re looking for because if everybody implements the same kind of strategies and rules, then we can really find trends. Then we can use them to our advantage and make some profits off of those trades.
If it breaks out, it could go high and find a new resistance. If you’re in doubt, I would say it should at least touch two times. And the more times it touches a line, whether it’s support or resistance, the more likely it’s gonna to translate into some good gains.
When in doubt whether you have really found support or resistance then zoom out and if you don’t know you can always scroll left and you can see if it does two more times you see it touching here, breaking there, touching bouncing scrolling left and see where it bounced back.
Remember, just look for those patterns and try it out on TradeView