๐ก Beginnerโs Guide: How to Monitor Crypto Like a Pro ๐ต๏ธโโ๏ธ๐
Many beginners enter the market and buy randomly just because theyโve heard a coinโs name. But smart traders monitor first, then make a decision!
4 essential steps to start monitoring any coin and assess its strength:
1๏ธโฃ Smart monitoring
Donโt overwhelm yourself with hundreds of coins; choose 5 to 10 at most.
Divide your list into categories: (leading coins like BTC and ETH, coins from strong projects, and popular or trending coins).
2๏ธโฃ Monitoring trading volume and liquidity (volume)
Price alone isnโt enough; always check the 24-hour trading volume.
3๏ธโฃ Tracking market sentiment
Take a daily look at the Fear and Greed Index to understand investorsโ overall state of mind.
Keep an eye on the โMost Searchedโ or trending list on Binance Square to discover what traders are currently curious about and interested in.
4๏ธโฃ Identifying key price levels
Support levels: prices where buyers are plentiful, preventing the coin from falling further (a potential buying opportunity).
Resistance levels: prices where sellers are plentiful, preventing the coin from continuing to rise (a profit-taking zone).
๐ก Golden tip: Monitoring requires patience. If you see a coin suddenly rise sharply, donโt chase the green candles (avoid FOMO). Instead, wait for the price to pull back and test support levels so you can find a safer entry point.
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