RohMarques19
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If you bought $BMT on the spot market for $0.26, but saw that the price started to fall (red candles). And now, you are worried if the price will rise again to $0.30 or continue to fall, follow these tips:
Wait for the price to stop falling and then buy more to reduce the average price. To rise above $0.30, 90% of the contracts would have to be sold short; otherwise, it won't go up. The whales have already unloaded their tokens. In other words, the price may not rise so easily because the large investors (whales) have already sold their positions. The suggested strategy is to wait for the bottom and only then buy more to reduce the average purchase price.
What to do in this situation?
1. Avoid selling in panic – If you sell now at a loss, you may lose money for nothing.
2. Watch the support – See if the price finds a level where it stops falling and starts to rise.
3. Volume analysis – If the buying volume increases, it may be a sign of recovery.
4. Beware of whales – If many coins have already been dumped on the market, it may be difficult for the price to rise in the short term.
5. Average price reduction (DCA) – If you believe in the project and see signs of recovery, you can buy more at a lower price to decrease the average price of the position.
#BMTOnBinance
Wait for the price to stop falling and then buy more to reduce the average price. To rise above $0.30, 90% of the contracts would have to be sold short; otherwise, it won't go up. The whales have already unloaded their tokens. In other words, the price may not rise so easily because the large investors (whales) have already sold their positions. The suggested strategy is to wait for the bottom and only then buy more to reduce the average purchase price.
What to do in this situation?
1. Avoid selling in panic – If you sell now at a loss, you may lose money for nothing.
2. Watch the support – See if the price finds a level where it stops falling and starts to rise.
3. Volume analysis – If the buying volume increases, it may be a sign of recovery.
4. Beware of whales – If many coins have already been dumped on the market, it may be difficult for the price to rise in the short term.
5. Average price reduction (DCA) – If you believe in the project and see signs of recovery, you can buy more at a lower price to decrease the average price of the position.
#BMTOnBinance
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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