BTC Day 2: Don't Chase the Price
One thing I'm learning while following $BTC :
Support and resistance matter.
Support = an area where buyers have previously shown interest.
Resistance = an area where sellers have previously become stronger.
But remember:
A support level isn't guaranteed to hold, and resistance isn't guaranteed to stop the price.
That's why I prefer waiting for confirmation instead of entering just because BTC reaches a certain price.
Trading lesson of the day:
Don't ask only:
"Will BTC go up?"
Also ask:
"Where would my idea be wrong?"
Risk management comes before profit.
What do you watch first when analyzing $BTC ?
Support/Resistance
Volume
Indicators
News
#BTC #Bitcoin #CryptoTrading #CryptoTradingTip #BinanceSquare
One thing I'm learning while following $BTC :
Support and resistance matter.
Support = an area where buyers have previously shown interest.
Resistance = an area where sellers have previously become stronger.
But remember:
A support level isn't guaranteed to hold, and resistance isn't guaranteed to stop the price.
That's why I prefer waiting for confirmation instead of entering just because BTC reaches a certain price.
Trading lesson of the day:
Don't ask only:
"Will BTC go up?"
Also ask:
"Where would my idea be wrong?"
Risk management comes before profit.
What do you watch first when analyzing $BTC ?
Support/Resistance
Volume
Indicators
News
#BTC #Bitcoin #CryptoTrading #CryptoTradingTip #BinanceSquare