Greetings to all bitcoin cashers. I am here to tell you that I have been feeling so crazily involve with these sudden massive movements of bitcoin cash and other crypto currencies! How about you how are you able to handle these? I mean gosh right? I mean I started here last January and wasn’t aware- actually aware of these graphical representation of prices and shits. And every day I always hope for the coins to increase. And still, I AM NOT YET SURE IF I AM living in a dream or I am in ecstasy.
Well as you all know it is my first real month experiencing these purely bearish scenarios. Imagine It was so dramatic that the increase is massive, well from $450+ to $700+ again! And what really makes me feeling so excited was I don’t know where and when exactly these coins will drop! And I don’t know even if I have to sell or not to sell. Haha the feeling when everything turns up red you just want to sell it afraid it will drop bigtime! And to reduce this anxiety I decided to study the graphs and some are becoming useful.
And these are purely base from my two weeks watching the graphs! And actually reading and watching youtube videos of how to read graphs! Well there are three types of trends and it is very useful and can be easily understand! But not all graphs and coins are the same, we have to check all the possibilities, news about the reason for sudden drop or rise, if the group who creates are working so hard to make the coins more “valuable”. The key is we all know that bitcoin cash have a very hardworking group and is really doing so much improvements and projects to make it known to the public! And that alone is the reason we are on the right track!
Moreover, I want to share these key points I have discovered and this one is a very useful tool because though it might sound like a basic analysis, remember that, everything that becomes more technical comes from the basics. And without the basics, chances are you’ll might go in the different direction.
3 TYPES OF TREND
1. THE BUY ZONE (UPTREND)
I know everybody is familiar with these type of trend. But the question is when to buy? Should I buy? Is this the time to buy? That alone is a very hard decision to do, especially when you are a newbie and do not know yet the up and down movement of the market, you might be subjected to FOMO. I know I have experienced it too. But if you wanted to join within the wave, you need a lot of patience! And studying historical data’s. Market is very volatile and it can go drop from 20 to 30% or up to 20 to 300%! Wow awesome right?
Here comes the sample graphs for buy zone.
No altcoins has a straight-line value and each are showing up and down wave. The important thing you need to consider before buying a crypto is to check its data from past weeks or months or years. For example, we all know that the bitcoin cash hits above $700+ before and it suddenly drop from $455-the chances of reaching the $700 again is high! Because,
There are many projects being introduced.
Bitcoin cash is very useful, and can be easily share, swap from other coins, with less fees.
The market is crazy and volatile.
It has reached $700+ and it is "possible" to hit it again or even surpassed it as long as the group are making a lot of effort to make it grow!
Things to consider before buying,
Do not buy at the highest peak or don't buy a coin you are not willing to hodl!
Study and research!
Buy low! Low!
Buy only the money you think you won't use for a long time!
2. THE SELL ZONE (DOWN TREND)
This is the very hard part! Specially when you are not into trading! I want to hodl hodl hodl! But how will you make your crpyto grow? Take profit and buy again the next time it drop!
Things to consider when selling!
Know the news! Will the price will go up or not?
Set your goals! What really is the profit you wanted!
Do not sell at lower price ---wait! Patience is the key and skills!
Don't sell everything!
3. SIDEWAYS!
These is the trend where we actually stay put or wait - if we are really not into trading! Because the movement of profit is very low, but some are really having profit by using these tactics! Here is the sample!
I have read from different blogs and watched from different vloggers that day trader uses this tactics! But were hodler right, the one who waits from massive growth so we can sell at a higher price! And is waiting for the future growth of the currency!
My my I don't want to make you even bored but these is really taking long! So how are you with the trend and graphs? Are you feeling high? Or regretful? Haha!!
I sold one fourth of my bch and is waiting for not quite a big drop! I was hoping I did the right decision! Hahaha How about you?
Thanks for reading!
Seriously i was not expecting someone know this much about reading graphs coz i tried to search every where to learn this i was also trying to join a group where they guide about technical analysis and graph reading your article really help me a lot to take some guide