Volatility makes it impeccably difficult to guess the next moves in the market. Similar to stocks, Most of the traders actually lose money While trading cryptos. But still the well experienced elite of crypto world always manages to buy at low and sell at high. At first, this sounds really easy to do - You buy when the price goes low and sell when it goes high. But that in fact that is a real difficult thing to do. But Still you can use a very simple yet effective technique to predict what is gonna come.
Now, keep that in mind that as a new comer to crypto, you'll prolly wanna stick to the long term investment strategies due to its lesser risk properties. But for those who want to make a living out of it, trading is the best option.
Analyzing the Charts And Finding Good Enteries
Charts may look like another fancy widget in your exchange site but its far more useful than that. If you are since a while in this industry, you must have heard the term "Support" & "Resistance". Basically, Support is the amount of Buyers and Resistance determines sellers. There healthy and Unhealthy ups and downs keeps the market running.
The Image you see is a great example of a Healthy Up trending channel Created. By the way, its ether chart on Coinigy. Every New Resistance is a challange for the market to break. The most stubborn one usually forms during a crash. Such of them are called "Major Resistance". Once a major one is forms, You may see market rising near to then and then falling back as if some thing is holding it back from going any further, Such levels usually take hours or even days to break.
Now here comes the important part : how to predict next Ups or Downs using these levels. First you will need to pick a site to analyze this. You can try Coinigy 30 day free trial and keep signing up later from different email ids to use it free for eternity. In the dashboard, select the exchange and crypto you whant to analyze. For example For ether its PLNX - USDT/ETH. Using USDT Is recommended because of its stable value.
