The rise in the price of Bitcoin in early 2021 has prompted many new traders to jump into the bullish market and buy Bitcoin in various ways. Are you looking for guide to buy Bitcoin? This article will help you find out when to some idea to making buying & selling bitcoin or any cryptocurrency.
Here i share some of my tips & guide with technical analysis that can give you idea to jump start.
However, please remember always that analysis cant make absolute predictions. Therefore, trade with caution.
using chart trending using https://www.tradingview.com/chart/ + MACD + RSI (you can add using function fx)
What is MACD? Moving average convergence divergence a.k.a "Signal Line"
When the MACD crosses above its signal line (orange line), you may buy the Bitcoin (BTC) and
when the MACD (blue line) crosses below the signal line, you may sell, or short, the Bitcoin (BTC)
**Another MACD strategy looked by which side of zero, purchase signals that have the potential happening when MACD changes above zero, and potential sell signals when it passes below zero.
What is RSI? Relative Strength Index
RSI indicate an overbought or oversold condition in an asset price. RSI is a line graph that moves between two extremes and has a reading from 0 to 100. The traditional use of RSI is that:
-if the reading is 70 or above that indicate it becoming overbought and may be primed for a trend reversal or experience correction in the Bitcoin (BTC) USD price.
-if reading 30 below indicates an oversold or undervalued condition.
my tips the nicer time to buy, when the RSI line start uptrend after reading 50
Conclusion, the crypto currency market change is huge and clear, it shows huge profit potential, but if one opens the trade, it will also result in huge losses, not all investors always get big profits in the financial markets, most traders have to pay tuition, they continue to learn and acquire knowledge through trial and error.
I hope my share about idea how to read the trend for buying and selling may benefits you, also important need to know about the news from a big platform about the crypto. As long as you not selling, you are not lost.
Stay safe and HODL for life! :D
