Maximize Crypto Profits in Choppy Markets: Beginners & Intermediate guide lines đ
Very short but highly effective
1. Mark Support Levels:
Identify strong support zones on the chart and watch how the market reacts when prices approach these levels. (You have start drawing charts and levels)
2. Trade Resistance Zones:
Take partial profits at each small resistance level as the price moves up. Ensure to book most of your profits before hitting major resistance areas.
3. Set an Invalidating Point:
Define a clear invalidation point for your trade. If the market breaks this level, exit your position to avoid further losses.
4. Use Stop-Loss Orders:
Implement stop-loss orders to limit potential losses and protect your capital if the market moves against you.
5. Always choose the most strong coins:
In these times the volatility of the market is at its peak, so better to stick to the top coins like BTC, ETH, BNB, SOL.
By following these steps, you can effectively navigate a choppy crypto market and optimize your trading profits.
