Hey guys I feel like every time I go to buy something it always goes down. Does anyone have any good tips for entry points?
With stocks it is usually far easier because they trade at a normal progression over a decent period of time. Crypto currencies are their own beast and are defying a lot of technical analysis rule of thumbs. I would try to first bear in mind what the specific coin you are trying to invest in was funded by. Was it funded by Bitcoin, Ethereum, both? When Bitcoin tanked last night you saw the entire crypto market tanking because many of these coins were funded by Bitcoin. Basically their entire infrastructure was built on Bitcoin. That being said, if you can look at a stock chart, set the time interval to days, even up to weeks. Look for an indicator called MACD. When you cut it on you will see bars the moveup and down on top of a center line (as the price moves up and back down in an uptrend), and down to back up below the center line(as in when the price is in a downtrend moving back to an uptrend. When the bars are below the center line, in downtrend mode, as soon as you see the bar stop progressing down and go shorter to move back up, look to enter at that point. Make sure you're using the longer term time intervals like days/ weeks on the chart (I like using candlesticks), as short term intervals are pretty unreliable. I know this probably looks like gibberish sorry.
