Litentry | Small Move But Big Potential (Beginners Trading Tips)Hello my friend, let's look at another bullish crypto-pair.
These altcoins charts are depicting short-term moves but growth potential is actually huge. We are only witnessing the beginning of the beginning, it is truly early in the growth phase these pairs are about to experience.
While after a major target/resistance level is hit there is always a retrace or correction, we are expecting to see long-term growth on these pairs. So this is a short-term move being mapped but remember that the potential can go much, much higher if you decide to hold thinking of the long-term.
While the USDT pairs are not in the same situation as the BTC pairs right now for the altcoins, things can change in a few months. You can see a BTC pair growing while the USDT pair goes down, but in 2-3 months the USDT pair can catch up. Some can even surpass their BTC side after a while, so there will a play where we enter through BTC and exit through USDT... But let's not complicate things, what is important is to enter at the bottom; great prices, great entry timing.
➖ Litentry (LITBTC) produced a pattern that tends to show up before a reversal takes place. After a small bullish breakout, a continuation is happening and this can lead to additional bullish action.
The target on the chart gives 111% potential but again, there can be more.
The strategy remains the same for all spot traders —buy and hold.
If you are looking to trade short-term, you can sell at the target and move to the a different pair. Or you can sell at the target, wait for the retrace/correction, buy at support and wait for the next rise to sell again.
These are the basics of trading. How you approach the charts, the pairs, the markets, will depend on your own trading goals, your trading style, your capital, your risk tolerance and the price at which you got in.
It can get complex fast, so if you are a beginner, just think of getting a good entry and waiting to see what next year brings.
I am wishing you wealth and success.
Remember to do your own research and planning.
You can only lose if you sell below your entry price.
You can only lose if you decide to trade.
If you buy with a long-term hold mentality, you are not trading and in this way can avoid 99% of common mistakes. When the market is up and full green, it will be easy choose the right time to sell.
This is not financial advice.
Thank you for reading.
Namaste.
