Buying and selling of cryptocurrency can be risky to both the experienced and inexperienced Traders/Investors. However, understanding the buying and selling waves can be of great advantage in your decision making. Below is a list of the 9 important points you must know in buying and selling of cryptocurrency.
IMPORTANT POINTS IN BUYING AND SELLING CRYPTOCURRENCY
1. Every upward or downward swing of the market consists of numerous buying or selling waves.
2. The degree of success or failure of buying or selling waves indicates whether the market is growing stronger or weaker.
3. In buying Cryptocurrencies, look for the down waves in the market and in your preferred Cryptocurrencies.
4. The waves provide clear indications of the relative changes of supply and demand.
5. To be able to accurately determine the turning points is the mark of ability of a good trader or investor.
6. It is important to master the ability to:
a. determine the final tops of bull markets and intermediate or minor up moves.
b. determine the final bottoms of bear markets and the inter¬mediate and minor down moves.
7. Cover your shorts and go long at the bottom of a panic.
8. Sell out all long positions and go short at the top of a boom.
9. Control your emotions.