I just watched a couple Youtube videos from Coin Mastery.
This guy doesn't claim to be the most expert trader with years and years of experience...but that's exactly why I like him. He's smart, to the point, and is admittedly "obsessed" with cryptos. He does his research, and is always willing to learn more.
Want to know what his hot tip is for when to buy? It's astoundingly simple, but makes lots of sense....ok, drumroll please....
Buy when you see 4 red bars.
That's it! Told you it was simple😝
Here is a perfect example below I found from Civic's recent chart:
You'll notice the price jumped very soon after 4 red sell bars appeared.
The more red bars you see, the more likely the asset is oversold. From analyzing a few charts myself, I can see this doesn't work perfectly 100% of the time. Occasionally a crypto will jump after 2 or 3 red bars, or even sometimes after just 1 if the crypto is on a crazy uptrend (think NEO a couple days ago).
Still, this is an excellent rule of thumb and if there is a crypto you've been wanting to buy into but haven't known exactly when, I'd highly recommend this strategy. In the video, Coin Mastery explains you can use any time frame you want. He typically uses 30 minute candles, and those will give you some nice, short term gains. That said, you can also use hour or day candles. The longer the time period, the longer you'll have to wait for the crypto to bounce back, but of course that means proportionally greater gains in the long term as well.
For more details on this strategy, check out the video below, this is where I saw this strategy featured:
