Dropping Risk and Raising Opportunity
Dropping Risk and Raising Opportunity
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If you already invested in Cryptocurrency and want to gain more money, dropping the risk and raising the opportunities is the goal of investing. There are many ways to do this but the two main ways of dropping the risk and raising opportunities are looking at the change of price in the cryptocurrency and finding patterns that you can predict the future price or looking at the news around the world about cryptocurrency to see if the price of that cryptocurrency will drop or raise.
If you already invested in Cryptocurrency and want to gain more money, dropping the risk and raising the opportunities is the goal of investing. There are many ways to do this but the two main ways of dropping the risk and raising opportunities are looking at the change of price in the cryptocurrency and finding patterns that you can predict the future price or looking at the news around the world about cryptocurrency to see if the price of that cryptocurrency will drop or raise.
Pattern and Trends/Support Lines and Resistance Lines
Pattern and Trends/Support Lines and Resistance Lines
Candle Sticks
Candle Sticks
Candlesticks are indications of the price of a coin at a fixed time. For example, one candlestick can be at a fixed time of 1 minute, 5 minutes, or even up to 4 hours. Also, they tell you what was the highest and lowest price at the fixed time. A green candlestick tells you that the price opened low and closed high. A red candlestick tells you the price opened high and closed low. This is important to know so you can indicate patterns and trends
Support Line
Support Line
As you can see when the price hits the green line the price goes up. This is the support line.
Resistance line
Resistance line
As you see here when the price hits the red line the price drops. This is the resistance line.
With the Support Lines and Resistance lines, we can use these lines to our advantage to indicate the trend of the price. We can raise the opportunity and predict the price with the lines. Letʻs look at a live example.
With the Support Lines and Resistance lines, we can use these lines to our advantage to indicate the trend of the price. We can raise the opportunity and predict the price with the lines. Letʻs look at a live example.
Looking for patterns
Looking for patterns
This right here is a candlestick graph of Bitcoin. I first drew my support line then my resistance line. Then I waited for the price to hit my Support line to buy. Then sold when the price hit the resistance line. Which gave me a 17.77% gain.
News Around the World
News Around the World
This part is simple, you just have up to date with the news in the world and do some research on your cryptocurrency. Here are some tips to find reliable sources and fact check sources or social media posts
This part is simple, you just have up to date with the news in the world and do some research on your cryptocurrency. Here are some tips to find reliable sources and fact check sources or social media posts
Keep up with nonbias news, like BBC, NBC (Goes a little bit to the left), The Wall Street Journal news, and NPR news.
If you see facts on social media or sketchy websites, do this method called lateral reading. where you fact check the information
Also, Twitter is a good source of fast and easy news, facts, and tips. ONLY if you follow reliable accounts
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