What are the best trading strategies for the past 135 days in the cryptocurrency market?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the best trading strategies for the past 135 days in the cryptocurrency market is trend following. This strategy involves identifying and following the prevailing trend in the market. Traders can use technical indicators such as moving averages or trend lines to determine the direction of the trend. By entering trades in the direction of the trend, traders can increase their chances of making profitable trades. However, it's important to note that trend following strategies may not work well in highly volatile markets or during periods of consolidation.
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• Dec 16, 2021 · 3 years ago
  Another effective trading strategy for the past 135 days in the cryptocurrency market is breakout trading. This strategy involves identifying key levels of support or resistance and entering trades when the price breaks out of these levels. Traders can use indicators such as Bollinger Bands or the Average True Range to identify potential breakout opportunities. Breakout trading can be particularly profitable during periods of high volatility when prices tend to make large moves. However, it's important to use proper risk management techniques and set stop-loss orders to protect against potential losses.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends diversifying your trading strategies to maximize profitability. While trend following and breakout trading can be effective, it's important to also consider other strategies such as mean reversion or range trading. Mean reversion involves trading against the prevailing trend, taking advantage of price reversals. Range trading involves identifying periods of consolidation and trading within the established range. By diversifying your strategies, you can reduce the risk of relying too heavily on a single approach and increase your chances of consistent profitability.
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