The markets are trading in the red and it can be hard to spot good trading opportunities during bloodbaths. Trading Bitcoin NOW can be tempting, especially when prices are actively moving. However, acting on impulse without a plan leads to reckless gambling more often than not. Savvy traders wait patiently for ideal opportunities with defined risk-reward ratios.
Rather than reactively jumping into trades, experienced traders proactively plan out trades and target entries. This means identifying key price levels in advance where the risk-reward ratio is favorable. For example, if your analysis shows a strong support level for Bitcoin at $23,000, you would wait to buy until that price is reached rather than FOMO shorting at $25,000. Executing trades according to a plan have higher success rates than jumping-the-moving-train trades.
Look Beyond Bitcoin.
BTC grabs attention when it moves, but plenty of other assets offer worthwhile trading opportunities. Expand your watchlist across stocks, forex, commodities, indexes, and more. Evaluate which markets are exhibiting solid technical setups or fundamental catalysts right now. Don't feel pressured to trade BTC just because it's moving. Sometimes the best trade is no trade if conditions aren't ideal.
By targeting defined entry levels, expanding your watchlist, and waiting patiently for prime risk-reward setups, you take the gamble out of trading. Plan your next trade systematically instead of trading impulsively on emotion. This approach leads to consistent profitability over the long-term.
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support ! CryptoCheck
Comment
⋅
And there it is:
Comment
⋅
Rejection at Diagonal Channel Midline and 200 MA Next likely bottom of Diagonal Channel: