Day 4 of 100: How to Identify Profitable Trades on Binance
To make money in trading, you need to spot opportunities—trades with high potential and low risk. Here are 3 beginner-friendly tips to identify profitable trades:
1. Look for Breakouts
When a coin breaks out of a strong resistance level, it often continues upward.
Example: If BTC breaks above $70,000 after failing to cross it several times, that’s a bullish sign.
2. Use Volume to Confirm Moves
A price rise with high trading volume = stronger move.
Low volume = weak move (can easily reverse).
Always check volume when you see a breakout or sudden drop.
3. Follow the Trend, Don’t Fight It
“The trend is your friend.”
If the market is clearly bullish, look for dips to buy.
If it’s bearish, look for pumps to sell or short.
Bonus Tool: Binance “Hot” Tab
Check the Top Gainers list on Binance to see which coins are getting attention. But don’t jump in blindly—do your analysis first!
Tomorrow’s post: "Using Technical Indicators to Confirm Your Trade"