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Great idea to use support lines, but overall when do you know how to start investing? Like how did you know that 7-10 and 19-27,000 USD is a good area to start accumulating?
Good question. I could tell you that I use a specific indicator like the MVRV Z-score, but that would be a lie. Yes, I look at those metrics too, but I pay attention to the following things:
- If no one is interested in crypto, the Instagram page has no engagement, and the company's revenue is at an all-time low - then I know it's a good time.
- Another important thing I look for is that it has to be boring. This means that after a month-long decline in the share price, there always comes a point where absolutely nothing happens. If you follow our Telegram channel, you'll see that we've been posting about the latest developments in cryptocurrency since 2018. When it becomes difficult to find something to update people on because absolutely NOTHING interesting is happening - that's when I know it's a good time.
Great idea to use support lines, but overall when do you know how to start investing? Like how did you know that 7-10 and 19-27,000 USD is a good area to start accumulating?
Good question. I could tell you that I use a specific indicator like the MVRV Z-score, but that would be a lie. Yes, I look at those metrics too, but I pay attention to the following things:
- If no one is interested in crypto, the Instagram page has no engagement, and the company's revenue is at an all-time low - then I know it's a good time.
- Another important thing I look for is that it has to be boring. This means that after a month-long decline in the share price, there always comes a point where absolutely nothing happens. If you follow our Telegram channel, you'll see that we've been posting about the latest developments in cryptocurrency since 2018. When it becomes difficult to find something to update people on because absolutely NOTHING interesting is happening - that's when I know it's a good time.
I hope this helped a little bit!
Thank you for the explaination (: Great to learn this from you
If you have more after the bear market than before 🔥
People are always looking for the best way to multiply their money, but they forget that it is even more important to avoid major losses!
Another great article! Love the strategy shared!
Thanks for the support Pedro!