Some friends ask me to analyse this digital currency. Though, i rare to trade this "thing", but for they ask again and again, and
Okay, I'll do it.
First, you have to know the fact that, market is "pausing" now, moving in the purple square area. It moves up and down containe in the area. So, if you insist to trade this, you have to be really patience. Because there's no winner in this game yet.
Second, Because there's balance between buyers and sellers, meaning you can go trading for buying and selling in this case. Take notice with my draw there in chart in form "red arrow for selling and green arrow for buying".
Third, I suggest you wait for bull candles appear first in area support before taking any action to buy. The same thing if you want to sell in resistance
Fourth, There will be time when market stop pausing and break the S/R zone (I expect to go down. But because market so mixed sentiment, no institution sure enough to direct this market now, going up also possible in this case). You go with the direction of breaking out. If break resistance, you go to buy, if break support, you go to sell.
But, my suggestion is always be patience and get easy money by searching trending market.
Hope this can help you,
Jee
Okay, I'll do it.
First, you have to know the fact that, market is "pausing" now, moving in the purple square area. It moves up and down containe in the area. So, if you insist to trade this, you have to be really patience. Because there's no winner in this game yet.
Second, Because there's balance between buyers and sellers, meaning you can go trading for buying and selling in this case. Take notice with my draw there in chart in form "red arrow for selling and green arrow for buying".
Third, I suggest you wait for bull candles appear first in area support before taking any action to buy. The same thing if you want to sell in resistance
Fourth, There will be time when market stop pausing and break the S/R zone (I expect to go down. But because market so mixed sentiment, no institution sure enough to direct this market now, going up also possible in this case). You go with the direction of breaking out. If break resistance, you go to buy, if break support, you go to sell.
But, my suggestion is always be patience and get easy money by searching trending market.
Hope this can help you,
Jee