Bear market continues and the prices of all crypto currencies are getting worse. I see many traders still try to earn money even if it is in bear market. I am curious in what way they can do with bad condition of crypto market. So, I google to know more about the strategies or tips. And here are the tips that I got from an article:
Trading tips in the bear market 1. Stop losses. Key point: You need to set a trailing stop.
2. Take profits. Key point: Plan multiple targets and put the targets on the lower side of crucial resistance points.
3. Target "Stop losses" and "Take profits" at the right placesKey point: You must study the charts, check the volume, use algorithms, and much more. Finally, you will use a technical analysis (TA) to set the targets correctly. You are hoped to be a skilled analyst.
4. Joining a communityKey point: You need friends to deal with various conditions in cryptocurrency. You will never win by being a single hero. A good community can lead you, remind you, share a lot of crucial information, and other useful things that you won't get fighting alone.
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I hope this will be useful and helpful for everyone.