Crypto Analyst Who Sold The Bitcoin Top Reveals How To Buy And Sell At The Perfect Time
30 Novembro 2023 - 8:00AM
NEWSBTC
Long-term crypto investor Jelle who caught the Bitcoin top in 2021
recently provided insights as to the best time to buy and sell
crypto assets. Jelle provided a background for his knowledge as he
stated these insights helped him sell his Bitcoin holdings at the
peak of the last bull run. A Powerful Bull Market Indicator
In a post shared on his X (formerly Twitter) platform, Jelle
explained one of the “most powerful bull market indicators” that
could help traders understand the direction of the market. This was
based on how to use moving averages (MAs) for trade entries and
exits. To enter trades, Jelle noted that he usually finds the
confluence between MAs and horizontal levels. Related
Reading: Dogecoin Holders Cross 5 Million, Catalyst For Price To
Reach $0.1? The analyst shared a chart to elaborate his point
further. According to him, there is usually a good entry when price
retests an area that “makes sense both horizontally, and MA-wise.”
This strategy is said to work well in the early stages of the bull
market. However, he warned that traders will likely have to rely on
MAs alone further into the bull market. Source: X He went on
to give an insight into his Bitcoin trading strategy in particular.
He said he uses the 21-week moving average when trading the
flagship cryptocurrency. In relation to the lower timeframes and
altcoins, Jelle mentioned that a combination of the 25, 50, and 200
Exponential Moving Average (EMA) works well. Finding
Trade Exits For Assets Like Bitcoin Jelle also gave insights
as to how to find trade exits. He noted that selling to MAs works
well too and this is preferable when there is a confluence between
the MAs and the horizontal levels. He also discovered that this
strategy works best in downtrends. However, that was how he exited
the Bitcoin market at its peak back in 2021. Source: X As to
the best time to use MAs for exits and entries, Jelle stated that
it works best when there is a strong trend present. Meanwhile, the
strategy is said to be “much less accurate in a sideways market.”
Although he decided not to go into details, he mentioned that mean
reversion strategies are more successful during such
conditions. Related Reading: Bitcoin Spot ETF: SEC Delays
Fail To Stop BTC As Price Clears $38,000 Generally, Jelle believes
MAs are a “great indicator in the trading toolbox.” However, he
cautioned traders not to “blindly trade” when the price reaches an
MA. Instead, they should also take a look at how the price reacts
to the area. He gave an example of how wicks through an MA can tell
one how “it is being respected.” Jelle had previously given
insights as to how to buy the right dips in a bull market. His
insights had also bordered on using Moving Averages to achieve
this. BTC loses footing above $38,000 | Source: BTCUSD
on Tradingview.com Featured image from BBVA.ch, chart from
Tradingview.com
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