Buying and selling cryptocurrencies at the right time is one of the biggest challenges for traders. But it is precisely this movement that can make big profits in the cryptocurrency market.
Thinking about it, the popular cryptocurrency analyst Ben Armstrong, from the BitBoy Crypto channel, discussed in a recent video the best strategy for making profits with cryptocurrencies at the right time.
For the video, he spoke to the crypto expert known as Crypto Face.
As Armstrong pointed out, many people fail to find the exact time to sell their cryptocurrencies and lose a lot of money from it.
That is why, Crypto Face has developed an exit strategy that combines the cryptographic four-hour chart with a shorter time interval. According to him, this method will show perfectly when to realize the profits.
When to sell your cryptocurrencies
First, the founder of Market Cipher highlighted the importance of looking at the charts over a longer period of time.
“Zoom out the screen. Stop shaking and groping so hard in front of the screen and zooming in for short periods of time, ”he said, referring to traders who analyze charts every few minutes.
According to the Crypto Face technique, the ideal is to analyze the cryptographic four-hour chart. Then, it is necessary to look for the “green point” that indicates, in 99% of the cases, an upward price movement.
“So, I entered along this four-hour green dot. What am I going to do to get out? What I’m going to do is go from four hours to an hour. So, on average, I will go up 25% of my time period ”, he explained.
According to Crypto Face, with Bitcoin, he likes to trade at four exit points, which are the bullish points indicated in the chart:
“I like to enter my trades at multiple growth points and four is a good number. But you can play with it however you want. ”
The analyst explained that the strategy of trading on four points is interesting because it prevents the trader from losing all his cryptocurrencies in a single wrong entry or exit.
Check out the full video below:
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