There is a pattern that rises little by little in every bull market, crypto influencers begin to make so much noise that it becomes very difficult to read the signals correctly, most of the times leading to missing a signal to buy crypto and being left behind.
If you’re learning about crypto and wish to learn how whales and bull try to time the market and know exactly when to buy or sell crypto, read this… My Five Tips To Never Miss A Signal To Buy Crypto:
Let’s take the current bull-market as example: We got our first confirmation around October last year, when the BTC Monthly chart closed breaking previous resistance.
1 – As soon as you have a bull-market confirmation, this is the perfect time to place your first positions, spot or leveraged. Use the Tradingview app, lay a Fib Ret on the monthly chart, from last top to last bottom, and wait for confirmation when it breaks the 0.618 zone, and right after it tests it and bounces back up (This your ultimate buy signal).
2 – You can use the same tool on lower time frames to detect where the prices are going to find resistance and which are the support zone that we will be watching close for any open position.
3 – Load your stablecoin wallets, place your buy order, limit order if you want to catch a low price before the high volatility starts (be careful this limit orders sometimes never get triggered because of how fast the market moves sometimes), or a market order for an instant purchase at a bit higher price. Click ‘Buy’ as soon as you are ready and got all your confirmations.
4 – Establish and set your Take Profit targets: Use the ‘Long Position Tool’ lay it on your chart, and establish your entry price. Now your first take profit will be the 1.618 mark indicated by the Fib Ret you laid earlier on the Monthly chart.
5 – Set a stop loss: I recommend no more than 10% of your total position.
I suggest you take about 50% of your total position at the 1.618. Then your second TP will be at the 2.618, 70% of the total left, your third and last TP will be at the 3.618 mark for a 100%.
Make sure to move your Stop Loss up, as soon as you get to your first target TP, and turn that number into your new SL zone.
If you have any questions let me know in the comments below.
Happy Trading!
The Violet Rose.