Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Master107 on March 15, 2021, 02:43:24 AM
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As Bitcoin remains blooming you can try to study your altcoins holding by Technical Analysis and you should set a target price. Through this you can try to avoid unrealistic price speculations and could messed the uptrend opportunity and find yourself in regrets someday imo.
- Of course do not become greedy for unrealistic expectations.
- To watch/observe is a must
- Set yourself in a safe place than in a danger uncertain target not unless miracle will happen.
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Trading analysis is a must for a trader. Only speculations can't help him, it can happen only bullish market because bullish trend tend to pull all coins and tokens without analysis. But a real investor thinks, analyzes before his investment decision. Selection of proper coins, tokens and target price is the prime factor to the investors.
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From my little observation TA can't effect too much in this bull market but news and updating partnership is important for assuming price, but to avoid huge losses TA can help us with friendly.
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It seems to me that technical analysis does not work on altcoins with sharp jumps in bitcoin. Today, the entire crypto market is red after the fall of bitcoin and TA does not work until bitcoin calms down.
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Thanks for tge post it is really informative. Trading analysis is a must for a trader. Dont just blindly follow other peoples signals.Before investing first analyse the market.
And make decision before investment how much profit you want to get and set a price dont be greedy.
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From my little observation TA can't effect too much in this bull market but news and updating partnership is important for assuming price, but to avoid huge losses TA can help us with friendly.
Even with the news and updating partnership, you still need to have a good technical Analysis understanding to see where there is going to be a correction or to have a general knowledge of where the market of your trading asset is moving. So understanding TA is essential.
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It seems to me that technical analysis does not work on altcoins with sharp jumps in bitcoin. Today, the entire crypto market is red after the fall of bitcoin and TA does not work until bitcoin calms down.
Yes you are also right Altcoins speculate much depending on positive or negative regarding that coin come. Some news manipulate the market so much that it doesn't follow anything else.
Also remaining updated is important in crypto.
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The target price is very important in investing, especially in the cryptocurrency market. With the target price, we can measure to what point we will hold the coin. Because with a target price, traders are often saved from a margin call.
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I am not really good with trading and that is why there are times when I am asking myself what am I really doing here in the cryptocurrency market as I am always a victim of circumstances and I made so bad decision in the past and just recently. I am now starting to learn many things on trading so that I can at least minimize potential loses. Holding is good but there are times when it is good to let go and then buy again when the dip is happening.
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Of course thats true,setting a future Price is so important and every trader should do it so 2017 disasters sont happend again, i think febonashi Can help in seting future prices for altcoins..
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The importance of technical analysis cannot be overemphasized in trading personally I use RSI indicator to help me to step a target of profit taking when price reached 70 to 80 I take profit when I bought while selling at 20 to 30 this are very important zones, recall the price of Bitcoin hitting $60+ yesterday a great opportunity to take profits before it pullback to $57K
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It is in bullrun season and we are in wave 3 of the market, so I think we should stick with the x100 target of the ALT/USD rate.
For ease of calculation, I usually refer to the ALT/BTC rate, considering that this rate will x10 from the bottom, multiplied by the price movement of BTC/USD according to the Elliott wave theory and can be sold at Fibonacci = 1 - 1.618 - 2.618.
With the target price, we can easily place a stop loss order on exchanges.
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I am not really good with trading and that is why there are times when I am asking myself what am I really doing here in the cryptocurrency market as I am always a victim of circumstances and I made so bad decision in the past and just recently. I am now starting to learn many things on trading so that I can at least minimize potential loses. Holding is good but there are times when it is good to let go and then buy again when the dip is happening.
I so much agree with what you said, It looks like you are telling my story. I like to see myself as a hodler but like you said, I always want to try to maximize profit buy selling when i believe the price is up enough and buy back when the price is down and i most admit that i have made some loss in this process even as recently as yesterday with BNB which is still my favorite coin at the moment. But I beileive this are all the learning process we go through in this market.
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I am not really good with trading and that is why there are times when I am asking myself what am I really doing here in the cryptocurrency market as I am always a victim of circumstances and I made so bad decision in the past and just recently. I am now starting to learn many things on trading so that I can at least minimize potential loses. Holding is good but there are times when it is good to let go and then buy again when the dip is happening.
I so much agree with what you said, It looks like you are telling my story. I like to see myself as a hodler but like you said, I always want to try to maximize profit buy selling when i believe the price is up enough and buy back when the price is down and i most admit that i have made some loss in this process even as recently as yesterday with BNB which is still my favorite coin at the moment. But I believe this are all the learning process we go through in this market.
True, this are the steps we have to follow or know if we have to make a bit of a head way trading cryptocurrencies. Understanding the TAs especially important if you have to at some point do trading because I don't suppose an investor should invest blindly without having a bit of TA knowledge and this will give you the ability to mark out where you can enter and exist the market.