Good analysis! You're right about the market struggling to hit key benchmarks. Usually traders tend to sell around these points which would drive the price down a little. I love channel trading and that chart is looking great! It's forming a small "ascending triangle" which is pretty bullish for short term trading like what you're doing (especially in a single day).
It's so interesting that cryptocurrency can be traded 24hrs a day. This could be a very lucrative way to make small gains while eating a midnight snack! =p
Great article - thanks for posting!
Thanks for the onslaught of the trading jargon, I need to make flash cards lol! That's what Ive been doing, trading damn near 15 hours per day. A seasoned trader friend of my told me about limit buys, so I tried that last night and missed a buy by $4. So my coin gains over the past 2 days have pretty much vanished. Im gonna be waiting for a crash. What do you think? Think it will bottom again? Thanks.
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I think because cryptocurrency is so volatile that you'll be fine. Limit is the way to go, when buying market you can end up paying quite a bit more than you expected. Though the downside with limit orders is if the price never touches your limit price you can potentially miss out on getting in. I highly recommend checking out investopedia chart patterns if you're going to continue trading. Although at first it will all look like malarky eventually you'll start seeing patterns on charts and that can help you out a lot. Keep it up man! Good luck out there!
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