How do you choose Cryptocurrency for day trading?

How do you choose Cryptocurrency for day trading?

Crypto Day Trading Strategy

1. Step #1: Pick up Coins with High Volatility and High Liquidity.
2. Step #2: Apply the Money Flow Index Indicator on the 5-Minute Chart.
3. Step #3: Wait for the Money Flow Index to reach the 100 level.
4. Step #4: Buy if MFI = 100 and if the subsequent candle is bullish.

What is the best time to trade cryptocurrency?

In general, it’s better to buy Bitcoin in the afternoon since prices tend to drop. On average, the best time to buy Bitcoin is from 3 pm to 4 pm. If you’re a night owl, you can also get a good deal from 11 pm to midnight.

What’s the best cryptocurrency to invest in right now?

Bitcoin. Created in 2009,Bitcoin is one of the oldest cryptocurrencies.

Ethereum. Ethereum is the second most popular cryptocurrency behind Bitcoin,and it also has its advantages and disadvantages.

Dogecoin.

Is cryptocurrency a good investment?

Investing in cryptocurrency could be a good investment, or it could not. That is true for cryptocurrency in general and likely for you as a person as well. With cryptocurrency being young, and the market being historically volatile, there is no yes or no answer about the wisdom of investing in cryptocurrency.

How to start investing in cryptocurrency?

Decide which kind of cryptocurrency you’re interested in.

Decide what type of investment you’re after.

Remember: crypto market statistics matter.

Find out whether the digital asset is widely accepted and trustworthy.

Take a look at the major crypto players so far.

Invest the right amount of money.

What crypto currency to invest?

Everything said and done, Bitcoin is still one of the most secure cryptocurrencies to invest in, and the whole cryptocurrencies market capitalization moves in its parallel. Consider it as the investment in the digital currency of future years or decades.