Once you begin to understand it, however, the idea becomes a lot simpler. A “bullish” market, or bull market, occurs when the price action appears to steadily increase. Reading the market is the ongoing process of spotting patterns, or trends, over time, which the trader can choose to act upon. Overall, there are two market trends: bullish and bearish. The totality of active buy and sell orders is a snapshot of a market at any given moment.

Crypto Trading Setup

By diligently assessing the protocol stack of a cryptocurrency network along with the monetary policy enforced by the protocol, a trader can determine if such features support a potential investment. While Bitcoin’s intended use case upon its launch was electronic money, developers and entrepreneurs have not only discovered new use cases for the Bitcoin blockchain but have also designed entirely new protocols to accommodate a wider range of applications. Are there reputable exchanges that support a particular crypto asset? If so, what trading pairs exist? Liquidity is critical for a healthy market.

A cryptocurrency’s individual unit is referred to as a token, much as a stock’s individual unit is referred to as a share. Risk management is also a significant aspect of trading. For example, a person might wish to only risk losing 1% of their overall trading capital either in total or per trade. Prior to entering a trade, it is important to know how much you are willing to lose on that crypto trade if it goes against you. This can be based on a number of factors, such as your trading capital.

Most cryptocurrency exchanges accept bank deposits via debit cards and wire transfers. The majority of cryptocurrency traders put their money into Bitcoin and Ether. Wire transfers are usually the most cost-effective way to fill your account and they’re accessible on Coinbase and Gemini. However, trading utilizing technical indicators is possible because these cryptocurrencies move more predictably than smaller altcoins. Many cryptocurrency investors put a portion of their money into altcoins.

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