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In this STEEM analysis, I talk about a more advanced strategy for using the RSI indicator. Although I do not suggest making many trades in a bear market, sometimes opportunities come up that you cannot miss out on. Consolidation periods are predictable. Often times coins are going to bounce between support and resistance levels.
When this occurs, it is important to look at additional indicators. I love the RSI. The RSI helps to point out when a coin is overbought and oversold. Many traders do not realize that they can do analysis on the RSI itself! I always draw support and resistance lines on the RSI so I am able to determine the "normal" movement of the indicator. In this example, we placed the trade as soon as the RSI fell below the support.
Technical analysis is all about looking for multiple indications of market movement. Don't just use one strategy or one indicator. Start to understand how coins move and you will start to see the patterns that occur within charts. As always, be confident with all of your trades and never get greedy.
thank you so much for great information can you make a video on how you buy and sell for profits in exchanges like bittrex binance etc like that buy limit stop limit sell sry im a new and i am learning from you
Magnr is a handy cross-platform trading site connected to a few big Bitcoin exchanges. Accounts never require any personal data or identitiy proof. So signup is quick and possible with anonymous data.
Leverage is available at Kraken up to 5x for several cryptocurrency pairs, including bitcoin. The fees are depending on the volume of the margin account.
Bitcoin can be traded on GDAX up to 5x leverage. The margin trading option must be manually turned on the account in order to make sure the users understands and reads the associated risks.
Margin trading is basically borrowing funds to purchase an asset, this allows you to buy more bitcoins that you would normally be able to do normally in the hope of making bigger profits on the price movements.
Advantages of Margin Trading.
The biggest benefit of margin trading is that you can take advantage of the additional funds when the market moves in the direction you expected. The overall profit of the positions once the bitcoins are soled and the loan is repaid is significantly higher compared to an ordinary trade execution.
Disadvantages of Margin Trading.
The disadvantage of margin trading is by nature the amount of risk a margin account can hold. The higher amount of leverage you take the bigger amount of money you can loose in case the market moves in an unfavorable way. Due to the margin call, the margin account must be funded countinuesly that involves significant amount of liquidity. It is only advisable to trade on marking if you have enough experience already on the market. To mitigate the associated risk, many trading platforms only offers limited amount of leverage trading opportunites.