When to Buy Cryptocurrency, Best Time to Buy Bitcoin and Altcoins
The cryptocurrency market has been growing steadily lately, and it seems like it doesn't matter when you buy cryptocurrency—you'll win either way.
Often, investors actively begin buying cryptocurrency at the peak of growth, after it has already reached its next maximum.
But in reality, a spontaneous purchase at the wrong time may not only fail to bring profit, but may even lead to significant losses.
Therefore, before making a trade, it is recommended to first conduct a small market analysis and determine the most successful points for opening a trade.
This is not at all difficult to do, as cryptocurrencies have been moving according to a certain pattern lately; all you need to do is analyze the movement chart of the selected asset.
Let's find out when it's best to buy cryptocurrency using the chart in the MetaTrader 4 trading platform, as this option is the simplest and most effective.
To begin, open the chart of the desired cryptocurrency pair in the MetaTrader 4 trading platform and see where the price is currently located:
If the price is at or near its minimum, then this is the best time to buy, and there is a high probability that the rate will rise.
If you bought cryptocurrency at its peak, there's a high chance the price will fall soon. Yes, it's possible there will be another rally, but will your nerves be able to withstand a sharp drop, and will you close the trade prematurely at a loss?.
This simple method of assessing the situation allows you to make transactions at the most favorable prices and make your trading on the crypto exchange more efficient.
Another advantage of the trading platform is that it allows you to place pending buy limit orders :
And program the transaction to be completed at the most favorable price, lower than what currently exists.
In addition, MetaTrader 4 allows you to use special indicators that will tell you the best moments to open trades.
