Trading a crash? These 3 rules keep you alive when Bitcoin drops 5 percent a day. 📚
Rule one, never catch a falling knife, wait for price to reclaim a level first, because Bitcoin is sitting right on the 50 week average near 75,733 dollars and a fast reclaim tells you the dip was a liquidity grab, while a failure tells you sellers are in control. 💡 Rule two, trade small, because the 24 hour range is 75,573 to 80,882 dollars, more than 5,000 dollars wide, and a normal size in that range can wipe a week of gains in one hour. Rule three, judge the breakdown on the weekly close, not an intraday dip, because Cointelegraph notes Bitcoin only briefly fell below the 50 week average, and a weekly close below it is what actually breaks the trend.
Which of these 3 rules do you break most often in a crash? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoEducation
Rule one, never catch a falling knife, wait for price to reclaim a level first, because Bitcoin is sitting right on the 50 week average near 75,733 dollars and a fast reclaim tells you the dip was a liquidity grab, while a failure tells you sellers are in control. 💡 Rule two, trade small, because the 24 hour range is 75,573 to 80,882 dollars, more than 5,000 dollars wide, and a normal size in that range can wipe a week of gains in one hour. Rule three, judge the breakdown on the weekly close, not an intraday dip, because Cointelegraph notes Bitcoin only briefly fell below the 50 week average, and a weekly close below it is what actually breaks the trend.
Which of these 3 rules do you break most often in a crash? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoEducation
