Blimey, the crypto market is a wild ride! Sometimes it’s up, sometimes it’s down, and sometimes it just sits there doing nothing — that’s what we call ranging or going sideways. And guess what? Bitcoin is doing just that right now, even with the new PM in office. Altcoins are taking a beating! 😥
Feeling a bit gutted? Keep calm and carry on! There’s no need to panic. Instead, let’s have a look at what to do to survive and thrive in this sideways crypto market. Bob’s your uncle! 👇
1. Ease Up on the Two-Way Trading
Trading in two directions is like trying to have your cake and eat it. You buy and sell at the same time, hoping to profit from both directions. But in a ranging market, that’s a risky business!
Why? Because you can’t predict which way the market will break. Will it breakout or breakdown? No one knows. Better to focus on one direction for now and play it safe.
2. No Leverage, Cheers! 🙅♀️
Leverage is like a cheat code in a video game. It can bring massive gains, but it can also wipe you out faster than you can say “cheerio”. In an uncertain market like this, leverage is a no-no! 🚫
