Bitcoin completed its halving, should you sell all your coins? for CRYPTOCAP:TOTAL by CryptoEngineering
Before giving you an answer, I should say that Cryptocurrency trading is no rocket science!
There is no expectation that you be a mathematical genius, or an economics professor to acquire wealth in crypto trading. Instead, clarity of vision, well-defined carefully observed goals and practices offer the surest path to a respectable career in crypto. Even if you’ve been trading for a while, at some point, you’ll hit some tough times. We all do. It’s what happens during those tough times that defines us.
Since 2016, I’ve talked over hundred traders who are struggling. In virtually all cases, their problems were solved by simply getting back to the basics. All that was needed to return to profitability was to exercise proper money management, trade only in trending markets, and follow the trading plan vs. giving into inevitable psychological and physiological urges that come with bad times.
I also have received many emails, messages and texts from people this week that how did I sell bitcoin at the top – $9999 a few days ago! Many of them also knew that I was long from $6200 – $6500 levels with a target of 40% profit on my previous Bitcoin analysis for EngineeringRobo.
You can also confirm it here ?
So, let me answer you what strategy do I follow and how it best works for me. I am a strong believer of applying simple technique to swing trading for short to medium term.
? Support and Resistance strategy :
If you look at the chart it does not move randomly, or sudden up and then sudden fall, it follow certain trend and what that trend is accumulation of Bitcoin . When you see the price moving up it continues uptrend for certain period similarly if it seen moving down it will fall till the price range where there are buyers. Once it reached these zones you see sudden turn in the prices, that is the place when you have to enter into the stock and ride on it till the trend completes.
? Time Frame :
When you look at the chart always watch in candlesticks and look at the higher time frame meaning around 365 days chart, watch it in 1D or 3H candles. This will help you to know where there are more buyers and sellers.
The higher the frame, the less chop there is.
? Technical Patterns :
On a very basic level crypto chart patterns are a way of viewing a series of price actions which occur during a coin trading period. It can be over any time frame – monthly, weekly, daily and hourly. The great thing about chart patterns is that they tend to repeat themselves over and over again. This repetition helps to appeal to our human psychology and trader psychology in particular.
? Trade with trend :
You cannot predict trends but you can follow them forever. Good trends don’t come along every day – It will take some time to catch good market trends. The good news is that if you learn how to recognize and get aboard them, you’ll be ready for when they do. You’ll limit your losses in less than ideal conditions and do extremely well in great conditions.
⬛️ EngineeringRobo ?
The Engineeringrobo is a great ally in all financial markets – when the price moves the algorithm will automatically show Buy and Sell orders when there is a best opportunity to make a profit. It is a just SMART trading script on TradingView that brings the easiest approach to trading with a high profitability rate.
Its unique algorithm find profitable coins, stocks and commodities based on their Ichimoku , VPVR, ATR, Fibonacci Levels, McGinley Dynamic, Moving Averages, RSI , MACD , Stochastic , Bollinger Bands , Volumes and Price Changes to give you entry and exit ideas.
⚡️⚡️⚡️⚡️⚡️ I know some of you already found the answer but for people who are still struggling, Let me give you an answer of your question.
? Look at the chart carefully, EngineeringRobo gave ” SUPER Sell ” Signal. IT IS A HUGE WARNING FOR TRADERS!
You should be so careful from now on.
( EngineeringRobo will flash on / off during the current bar until it closes because it is live data! The signals “can appear at any time during an open candle”, but once closed the signal is final and “WON’T CHANGE” in the future. Don’t enter a trade until the current bar closes with a signal if you want to make sure 100% on the signal. You enter at the open of the succeeding candle! )
? The candle is still above the support level , you dont need to hurry to sell all coins! You should always see ” Open – Close ” confirmation before making any buy or sell decision.
? Between 10% range , there are MA 20 , MA 50 , MA 100 , MA 200 and McGinley Dynamic is giving a support to market cap! ( If you are EngineeringRobo users, you can activate them to confirm it )
? There are still no sell signals from Bull & Bear and Moon & Hell indicators!
? EngineeringRobo’s cloud is still green! It means no hurry until seeing the red cloud!
With that being said, you should never FOMO or FUD on your trades. However, you shouldn’t hesitate to buy or sell when you get the right confirmation signals! ( EngineeringRobo helps you a lot here – Look at the chart )
If the candles breaks down the support level with a clear break out, It is time to say bye to market!
As I always say that you can’t control the market, but you can control how you trade.
So, why not give the EngineeringRobo a try and see how it can help you generate income in both bear or bull markets.
Over 250 people can not be wrong by using it. Take a risk free 7-day trial today!