In the world of trading on the Binance platform, it is not enough to just buy cryptocurrencies and hold them; one must know the right time to enter and exit a trade to make profits and minimize losses. Here are some strategies:
1. Support and Resistance Strategy
Support: It is the price that is difficult to break down, and the price often bounces back up from it (entry point).
Resistance: It is the price that is difficult to break up, and the price often bounces back down from it (exit point).
2. Moving Averages Strategy
Enter when the short moving average (e.g., 9 days) crosses above the long moving average (e.g., 21 days).
Exit when the opposite occurs.
3. Time Analysis Strategy
Monitor market movement patterns during specific times of the day or week, and identify the best times to enter or sell.
4. Breakout Strategy
Enter when the price breaks a strong resistance level with an increase in trading volume.
5. Using auxiliary technical indicators
Such as RSI and MACD to confirm the trend and
The best time to make a decision.
