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Customizing Your Trading Plan: Tailoring AI Cryptocurrency Trading to Your Needs

  Whether you are new to crypto trading or have been doing it for a while now, you need a solid trading plan. Take it from successful cryptocurrency traders who follow a set of habits and routines to carry out trades. Their routines are based on carefully structured strategies that they have fine-tuned over time. By creating and following a trading plan, you, too, can increase your chances of success in the highly competitive and volatile world of cryptocurrency trading. What exactly is a trading plan? A trading plan is a written or documented structure that serves as your roadmap for trades. Its purpose is to guide you in identifying and executing trade opportunities. As such, it must account for various conditions, like determining the variables before buying or selling, finding trade opportunities, what currencies to trade, and how much risk you can handle for every trade. Additionally, it should remind you about managing your positions. Why do you need it?   Beside...
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Learn the Importance of Using Technical Analysis for Cryptocurrency

  Investors, traders, and financial analysts have been using technical analysis for decades. This strategy has made its way into the cryptocurrency market, allowing crypto traders to survey price action, chart patterns, indicators, and more. But is there any benefit in using technical analysis for crypto ? The role of technical analysis for crypto Technical analysis is a prediction strategy that relies on short-term information to determine future trends in a market. However, it is also a subjective study, which means its results are not always guaranteed. This characteristic can turn traders away from technical analysis, opting for alternatives like the fundamental analysis. However, you shouldn’t let this discourage you from using technical analysis in crypto trading. When done right, this strategy can help you: ·          Predict short and long-term price valuations, including possible outcomes ·      ...
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What Is the Science Behind Crypto Technical Analysis?

  Crypto technical analysis  is one of the foundations of the market. It involves the science of analyzing charts or historical price movements, allowing an analyst to detect patterns. Professional analysts traditionally performed technical analysis, but artificial intelligence is slowly taking over, prized for its speed and accuracy.   The science behind crypto technical analysis Technical analysis in crypto has two core elements: the Dow Theory, which explains market trends, and charts, which are indispensable tools that provide a visual representation of price action.    The Dow Theory can be summarized in six principles:    All the information relating to an asset is already incorporated into its price. This includes valuable data, such as the asset’s profit potential and competitive edge.   Three primary market trends exist, including the bull and bear markets. The primary trends undergo three majo...
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The Myths and Facts Behind Technical Analysis Crypto Cryptocurrency

Analyzing charts is one of the things you must do daily as a crypto trader. It helps you conduct  technical analysis  for  crypto   or  cryptocurrency  that helps to achieve consistent results. The data helps you do calculations and predict price movements so that you can trade more confidently and smartly. Trading is a gamble if you base your buying and selling habits on guesswork and intuition. As a trader, you need solid information on the market via technical analysis. However, not all traders trust technical analysis, thinking it’s a superficial study of patterns and charts without profitable, concrete, or conclusive results. Still, with the right tools, it can be a Holy Grail for some investors. Let’s go over the myths and facts behind it. Myth 1: Technical analysis is suitable only for day trading or short-term trading One of the common misconceptions about  technical analysis   for  crypto   or  cryptocurrency  is...
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