#MemecoinSentiment What is day trading in cryptocurrencies?

Day trading in cryptocurrencies means entering and exiting trades within the same day, sometimes in a matter of minutes, to capitalize on small and quick price changes. It is a short-term activity focused on momentum, volume, and speed, not on long-term investments.

Here’s how it works:

Detecting the setupTraders work on 5-minute to 1-hour charts, looking for breakout patterns. Indicators like RSI, MACD, or sudden increases in volume often confirm these movements.

Defining the trade

Entry: Just above a breakout or resistance level on the chart.

Stop-loss: Strictly below the recent support or breakout level.

Take profit: Based on resistance zones, Fibonacci targets, or a fixed risk-reward ratio.