Last month was successful for me and the trades brought good profit.
I decided to share with you the basic principles of trading in the cryptocurrency market in simple words.
1. Enter trades only in strong zones (support, trend line). 2. Trade only according to the market trend, don't test your luck. 3. Have a large margin reserve. 4. Set TP in real zones, don't be greedy. 5. Have patience and nerves of steel. 6. Take risks, but wisely and with meaning.
The cryptocurrency market is for those who know how to waitโณ๏ธ
How can you easily find an entry point without using dozens of indicators and the advice of fake bloggers?
If you donโt know when to enter a trade, itโs best to use a simple scheme:
1. Determine the BTC trend (upward/downward) 2. Find strong support and calculate the % drop to that level. 3. Check for the presence of EMA50/EMA100 near the support line. 4. Place limit orders (a bit above is okay) 5. If the trade is with first-order altcoins, the calculation should be ร2 of the % drop of BTC.
Example: BTC Price - 116k Nearest strong support - 111k EMA50 on 1D - 111300 EMA100 on 1D - 106100
The drop to this support will be -5%, so for flagship altcoins, it will be -10%+-.
Thus, when BTC drops to around 111k, good entry points will be for SOL ~165 (180-10%) and XRP - 2.8
You must also consider the dips below and, if possible, set limit orders there as well. Usually closer to EMA100.
In conclusion, by using this simple and clear trading scheme, you will avoid random entries into the market without a plan.
Never make purchases without prior risk assessment and a plan, and do not trade based on personal feelings.
#CYBER aims to break the global downward line ๐
After the last peak at 15 dollars, the token has been in a declining channel for a long time, a breakout of which will send the coin's price into a strong rise.
We should expect a consolidation above 2.3 and then above strong resistance at 2.5
The token is gradually recovering lost zones, but not as quickly as some "colleagues" - the drop was below several EMAs that hindered a sharp recovery.
But ahead, the asset is facing a very strong double resistance: the descending line from the last peak and the level of 195. There's a high probability that there will be a downward correction in this area for consolidation and a breakout in the near future.
Solana rises significantly only when investors move funds from BTC, consequently, the dominance falls.
The token is being built with small movements to consolidate above EMA100 on the daily chart.
All lines are close together, so it will take some time for consolidation and movement towards the important zone of 5.2, a breakthrough and consolidation of which opens the way to 11 dollars - a psychological mark that the asset has been unable to overcome for the last 4 years.
It is in this zone that I see portfolio fixation, if the token does not reach there quickly and does not open up opportunities to go higher, towards 16 and 22 dollars.
Bitcoin closed the day above the descending trendline and immediately surged upwards.
The Pivot Week has ended, and we can say we have withstood without critical declines.
Such movement cancels the negative scenario, and now the asset should move towards a new ATH.
All of this coincides with maintaining the important dominance zone above 60%, so many altcoins are either slowly rising or have entered a slight correction.
There is still a month until the rate cut, so there may still be fluctuations, but they are not alarming.
Next, everything should align with profit-taking on BTC and a significant drop in dominance, which gives the green light to altcoins ๐
Friday and the weekend are passing calmly, even with a slight positivity. Bitcoin has so far held at support level 116600 and is trying to break out of the channel, but we need to be cautious and wait for the day's close.
On the chart, it looks like a breakout upwards, which could be a trap - a false breakout. If we close the candle back in the channel, my orders remain valid.
Dominance has fallen to around 59% and this adds excitement for buying altcoins, but a rebound and testing of the important level of 60% is possible.
In trading, patience and cold calculation are important.
As I previously assumed, we have returned to the previous liquidity zone and now is the moment of truth.
There will be trading within the channel and an upward breakout targeting 127k, or we might first be pushed down to cool off the market and scare everyone.
Considering that today is Friday and the weekend is ahead, I still expect a pullback to the area of 113800, where I placed a buy order. I also have a limit order at 110800 as a precaution.
The cryptocurrency market is positive and the level of greed is at 74. Dominance is dropping and pressing on the important 60%. All of this should be seen as a sign of a possible downward movement with low wicks.
Solana has arrived exactly at the descending trend line and is trying to hold above it for further growth.
Today is Friday, which means it can be volatile. Therefore, it is too early to talk about a continuation of growth and jumping into longs. By Monday, everything could change and bring the price below the trend line.
In the absence of negativity, we can easily see growth to the nearest resistance at 190.
Someone may say that it's early, but I believe that in our trading work, it's better not to be greedy.
Friday is ahead, and Trump's speech is coming, which he likes to do before the weekends when the fund is not working, to crash the crypto market. It's better to be cautious.
I will wait for my strategy - touching the upper line and a pullback to the lower one, where I will re-enter with a target of 127k.
The asset is moving according to the planned schedule with sharp fluctuations up and down, but within the channel.
I think by Monday we should see the area of 117k+.
Breaking the current descending trend line in the range of 118-119k for the first time this week seems impossible without any significant news from outside.
Shorting now can be done with scalping, but it is extremely risky. Remember that Bitcoin will still close the gap at 121k.
The asset is moving according to the planned schedule with sharp fluctuations up and down, but within the channel.
I think by Monday we should see the area of 117k+.
Breaking the current descending trend line in the range of 118-119k for the first time this week seems impossible without any significant news from outside.
Shorting now can be done with scalping, but it is extremely risky. Remember that Bitcoin will still close the gap at 121k.
For holders #BNB , the exchange regularly conducts Launchpool and distributes free coins. Why? - this is a reward for loyalty and support of the Binance family.
Also, for those trading on #BinanceAlpha , there are airdrop distributions. For each claim, 15 points are deducted. Accumulating daily on low-volatility tokens is not difficult.
With the smart use of Alpha points and holding BNB - one of the most stable and strongest tokens, you can earn good profit for free.
It's simple: take your coins from Launchpool and the separate airdrop, sell them, and receive income day by day ๐ฐ
I regularly earn from such events between 200 and 500 dollars. Join us โ ๏ธ
For holders #BNB , the exchange regularly conducts Launchpool and distributes free coins. Why? - this is a reward for loyalty and support of the Binance family.
Also, for those trading on #BinanceAlpha , there are airdrop distributions. For each claim, 15 points are deducted. Accumulating daily on low-volatility tokens is not difficult.
With the smart use of Alpha points and holding BNB - one of the most stable and strongest tokens, you can earn good profit for free.
It's simple: take your coins from Launchpool and the separate airdrop, sell them, and receive income day by day ๐ฐ
I regularly earn from such events between 200 and 500 dollars. Join us โ ๏ธ
Altcoins are showing weak growth as traders buy Bitcoin, consequently BTC dominance is increasing.
As I anticipated at the end of July, it won't be easy to break below 60% dominance - this is strong support and simultaneously the gateway to Altseason.
On the BTCD chart, a "bear flag" may form, and if this is indeed the case, the scenario will develop in favor of altcoins.
After yesterday's drop, Bitcoin is recovering, but weakly. I believe traders are cautiously opening long positions, as the Pivot week is always volatile.
An ascending triangle may form on the chart, aiming to return to the upper boundary of the previous pattern, where the resolution will occur. Either a breakout upwards targeting 127k, or a return to the range of 111k-113k.