Many traders at the moment of following the trend fail to keep an adequate count of the ups and downs during the ride, the cryptos markets move in an accelerated way in a bullish market, we are currently seeing it with Bitcoin, however, it is possible to know the top of a momentum, it is complicated, I won’t deny it, it requires constant attention from the trader and above all a knowledge of what to watch, I won’t talk about it right now, but I will tell you the simple way to make profits in a bullish trend of Bitcoin.
The first thing you should observe when looking at a chart is the impulses and corrections that the movement has made in its path, the impulses are movements with constant intermediate patterns of short duration, the corrections are usually downward slots, but they can also be parallel channels, but these are of a longer duration than an intermediate pattern.
How you should make money in this bull market, easy… go long on an impulse and short on corrections, it sounds simple, I know, you will wonder how I know when is the beginning and the end of a correction, surely you already know, but I will remind you, the end of an impulse is an upward wedge, the beginning of an impulse is a downward wedge break, if you don’t have those figures don’t buy or sell, stay neutral until the figure is presented in the chart.
I hope this post will be very useful in your learning as a trader and that you can take advantage of this bullish season as much as you can 😉
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