Buying Bitcoins is one thing while selling them is another. It may have happened that you wanted to cash out your Bitcoins at some point in time for various purposes known to you. But the serious dilemma which every other new investor goes through is the common question, how to trade in cryptocurrencies. Do you just simply plan to sell and then ask your exchange to sell it? No, things are not done that way. For that, you must know Bitcoin trading trends that are vital for you to make profits from your proceeds. And if you are using apps then Read more. You need not unnecessarily worry your head over anything.
The crypto realm is quite huge for one to handle in the first place. Hence, there is a wide array of options you can choose from. If you just simply follow these few rules of analyzing you will get a fair idea of the market. Later on, you can get in-depth knowledge by reading further details of market trends.
Get a market overview. Read news and events that may influence the price. On the other hand, you can also technically analyze the Bitcoin trends by reading into their charts. Price analysis in depth is another way of getting a feeler of the market and its trends. You can read the 15-minute charts. It goes into detail regarding the prices of the coin.
If you want to become a vital part of the process then looking out for random alerts of dropping prices of the cryptos from your respective exchange platforms is necessary. These trading signals are very helpful. Next on, you can find the best and most accurate tools. The tools come with many modern features that are a good way of determining the best way and time to trade. They will recommend the best trends. You can also get going with reading sites and blogs about Bitcoins and how to trade them. Read the daily news on Bitcoins. With this you get to stay in the Bitcoin loop.
Becoming an active member of social platforms is also another good way of gleaning information and staying connected to the system. And you should know well by now that the media is one of the most powerful ways of influencing the price and spreading knowledge about its trends.
Crypto charts are a good way of telling modern market trends. They will help in taking decisions easily. Now, what are crypto charts? Crypto charts are in simple words graphical representations of historical prices, time intervals and volumes. They also show patterns based on the digital currency’s price movements. They can help you make spot investments.
Follow the tech charts- One of the things which is quite common to spot in the crypto exchange platforms are the Japanese candlestick. These sticks consist of green and red bars in a chart format which can help you understand the market vo0latility at present. If the chart shows lots of red candles, then it is indicating a downfall in the prices of the respective cryptos. So, you should refrain from selling your assets. A green candle will show just the reverse. So make your move depending on the color of the candle.
Bull and bear patterns – When the candle is hammer-shaped it means the prices are low. The short body and long wick tell of the low prices. It is a bullish reversal pattern.
Shooting star candle patterns – It is a bearish reversal pattern when the prices are high. The pattern will be like a long upper wick with a short body.
The technical charts have a few popular patterns like:
Head and shoulders
Support and resistance
There are phases in a market that a trader must look out for. They are the accumulation phase is that phase traders buy and sell with their own knowledge and perception of the prices. Next comes the public participation phase when the asset has been accepted by the general public and starts following the investors who already have knowledge. The distribution phase follows the previous one. In this phase, the first group of people who originally began accumulating assets sells them off to other holders.
If you know your charts well then there is no stopping you from making profits from your sales and coming out unscathed. So read the charts well before you finally leap into the fire because in spite of knowing everything about the crypto market there is still no way of predicting it.