THECRYPTO.WATCH – In crypto trading, many investors are confused about timing. You can take TCW token profit at any time according to your needs. The development team is open that this is the right of every holder.
Determining the Time of Taking Profit TCW Token
Every investor does not want to make a wrong step in setting a stop loss that has the impact of losing a lot of money. Especially in bearish conditions.
Especially for tokens that have just developed. Sometimes, investors and holders are not allowed to take profit. However, if you join TCW token, this will not happen.
The development team views that this is the right of the holder. You can put this freedom to good use. So the first step that needs to be done is to determine the right time.
Consider the following two basic things before choosing to take profit :
Compare Price Action
Comparing between price action and the relative strength index can be the right indicator. It aims to find out the entry price and exit price as an indication of taking TCW token profit.
Comparing the two will give you an idea of how much profit you will get. For example, comparing prices based on a TCW token chart within a 4 hour period.
Based on the assumption of entering a long position after condition A. Then at the next price peak in condition B, the RSI will make the price higher. In this condition, there is an increase in buying momentum, which is very strong, and could therefore push prices up.
Condition B is a good sign to take profit. You should also pay attention to condition C to retest the resistance level formed as a result of rising prices. Look at the price conditions that existed before and you will see a sharp decline in the RSI.
Paying attention to Fibonacci Level
Crypto assets are still affected by bots and automated trading algorithms. The environment of the market that will push the price to the Fibonacci level.
While the Fibonacci level itself is a horizontal line that can bring up support and resistance level. That possibility is the basis for the potential price to reverse direction.
Traders will be easily taking profit TCW tokens when they pay attention to these two basic things.