If you are one of the many who are new to cryptocurrency there's a good chance you read chat on the Slack channels or Bitcointalk forums about trading cryptocurrency. Many, including myself had never done any sort of prior trading. One of the most important tools a new investor in crypto is reading charts so that you have a higher probability of buying on a downward trend. How does one read the chart and determine this?
This is where the Fibonacci retracement approach comes in handy. The 2 main exchanges in the US, Poloniex and BIttrex offer this function, however many simply do not understand it. If you take the time to learn this simple technique it can increase your profits and leave you feeling less stressed because you purchased at the wrong time. Watch this short tutorial to better understand how to utilize this analysis technique.
I recently signed up with the www.therationalinvestor.co and coinigy.com to improve my overall analysis of charts. Know that I am 6 months new into trading and have done very well, however I made many foolish mistakes along the way that cost me money and sleep. This short video will allow you to confidently learn how to use the Fibonacci retracement and make better choices with your buys.
As always, never invest more than you are willing to lose, and don't get caught up in FOMO (Fear Of Missing Out) or FUD (Fear Uncertainty Doubt).
If you find this information of benefit, Show your support by Up Voting this post! :)
Namaste
Need to Purchase Bitcoin? Sign up a receive $10 in Bitcoin https://www.coinbase.com/join/56cc011508cb067dd8000029
Secure your Crypto with the Ledger Nano S https://www.ledgerwallet.com/r/158f
Bitcoin Address: 1KEFNix9WHNwNqD6GpexcJxJunhje6nmcT
Ethereum Address: 0xB26bE4D9ce4f9Df16Fd116fA2dfF101228A48BD9
Ethereum Classic Address: 0x472d481C22e8d288f27aC2A477dc97FF12FCF0FC
