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Simple method to know when to buy or sell Bitcoin
The market is bleeding right now and many investors are wondering if now is a good time to buy Bitcoin or sell it instead. The strategy revealed in this article allows even a beginner to easily detect buying and selling points. This method can be applied to all cryptocurrencies. By analyzing this method over the long term, you will find that it allows you to make strategic purchases and optimized sales. It is therefore not a trading method reserved for the experienced, but rather a technique that everyone can apply.
Essential indicators
It is essential to open an account on tradingview. It is a site that allows you to analyze the course of cryptocurrencies. Then, you will need to add two indicators:
– MA: Moving Average (MM: Moving Average)
To effectively use this flag, it must be set correctly. To do this, you click on indicator, on MA, then you put 150. There will be a line that will appear on the chart. It represents the average price of Bitcoin or the selected cryptocurrency over the past 150 days.
– RSI (Relative Strength Index)
You click again on indicator, then on RSI. To set this technical analysis indicator, click on RSI and enter 50. You have to go Dayly. We have thus just configured everything necessary to know when to buy and when to sell.
The strategy itself
First, we will see how to buy Bitcoin at strategic points. Then, we will see when to sell, when the prices are overquoted Indeed, when the prices are overquoted, the price can turn around at any time.
When to buy Bitcoin?
You have to buy Bitcoin whenever its price is above the Moving Average. When the price of digital gold is below the Moving Average, you should refrain from buying. This strategy, it should be remembered, is reserved for those who want to invest for the long term. It is for this reason that when the Moving Average is favourable, to obtain supplies, it is necessary to use the Dollar Cost Averaging. It is a method that consists of monthly investing a given amount in a previously identified cryptocurrency.
When to sell Bitcoin?
To know when to sell Bitcoin, you need to use the RSI indicator. However, it is important to specify that you must always sell your cryptocurrencies in stages and never in blocks. When the RSI reaches 70, then you have to sell part of your capital. The RSI tells us if the cryptocurrency is overbought or oversold. When the asset is overbought, its price will potentially fall. So it would be smart to sell some before the price crashes.
Buying and selling Bitcoin automatically is now possible
The method explained above, generates gains without a doubt when placed over the long term. This method has been refined, supplemented with other smart indicators and strategies and then automated. This is the Smart strategy, developed by the Fructify.io platform. She will be out soon. This new strategy makes it possible to optimize the method revealed in this article, since it is designed with functionalities that cannot be configured manually. All you have to do is allocate capital to the smart strategy and the algorithms will take care of investing over the long term thanks to artificial intelligence. To experiment with this method, click on the link at the bottom of this article.
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This text does not constitute investment advice. Do your own research and only invest the money you can afford to lose.
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To invest in mining or masternodes:
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If you want to learn more about Bitcoin and investing in cryptocurrencies, here are two perfect books: “Understanding Bitcoin in 2 hours” and “Investing in Bitcoin”.
Watch the latest video “The 5 crypto news of the week”:
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