The Five Things You Should Consider First When Analyzing The Market
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Succeeding in the financial markets means you must learn how to apply both technical and fundamental analysis skills to become a winner if not you may end up losing your capital even when you think the technical analysis you have carried is perfect. It is good to know how to analyze the financial and also good to listen to the news that has to do with fundamental analysis.
Technical analysis means using trading tools (indicators) such as moving averages, relative strength index, charts, and many others to analyze the market, whereas, fundamental analysis means paying attention to news surrounding the market, both social and political force news. News can affect the price of a cryptocurrency either positively or negatively you need to consider these things which we have shared in this post when analyzing the tg market.
Five things to consider first As A Trader
| Crypto Market Development |
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As a crypto trader, you need to consider looking at the development surrounding the crypto market most especially the asset that you want to trade on. Try and know what analysts and other financial experts are saying about the market.
Like for instance, in the past few things we have seen a significant rise in Ethereum because of the ongoing development surrounding Ethereum which as of the time of writing this this US SEC begins approval process of Ethereum ETF, discussions currently ongoing. With this time of development, it means there will be more significant rise on Ethereum.
| News Releases |
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As a trader listening to crypto-related news and news surrounding the financial markets is very important for your growth. You need to know the news that is coming out of the market every day and how it impacts the crypto market.
Positive news can turn the entire crypto market into a bullish market, whereas if it is negative news it can turn the market into a bearish market you must make sure you check your favorite crypto news platform for market updates or economic calendar for the latest news.
| The Current Market Events |
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As a trader, you need to check for current market information from news websites or your favorite crypto blog to know what is happening across the crypto market. Events like elections, wars, political scandals, crises, and others can affect the movement of cryptocurrency which you need to be aware of if there is any when analyzing the market.
| The price of other Classes of Assets |
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You can decide to know the market price of an asset like a bond, treasury, shares, other cryptocurrencies, etc how they are moving when analyzing the market to be mindful of your actions when making decisions.
| Review your chart |
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Chart is what gives you an insight view of the market which you need to review again to know your key support level and resistance level. By reviewing the chart you will know the best place to place your trade and set your take profit and stop loss level.
Conclusion
Today, we have discussed what you should consider when you are analyzing the market so you will not end up losing your capital. I hope this post is helpful. Note: this post is not financial or investment advice, but educational content that is written to educate you about what you should consider in your trading analysis.
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Charting BTC should be one of the top priorities of any crypto analyzer, know the exact mood of the general market, wait for a confluence then gbam!! you are positioned.
Nice article Josepha.
Yeah, you are right. Once a trader knows how to analyze the BTC market then he or she can analyze others. Thanks for stopping by.