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Tether (USDT) Commercial strategy: Beginner Manager
The cryptocurrency trade has become increasingly popular in recent years. Many investors and dealers try to diversify their portfolios and use market fluctuations. The most commonly traded cryptocurrencies include USDT (bound), stable and connected to the US dollar. In this article we will provide a beginner guideline for creating a USDT trade strategy using technical analysis.
To understand the connection
Before you immerse yourself in the development of a trade strategy, it is necessary to understand what Tether is and why you want to act. Tether is a stable, a 100% supported US dollar. It is associated with the value of the US dollar, which means that its value remains relatively stable compared to USD. This stability becomes an attractive choice for retailers who want to invest in cryptocurrencies, but do not want to store them for a long time or do not want to keep them.
Technical analysis: The main component of every trade strategy
Technical analysis is an integral part of every trade strategy, and this is particularly important if it communicates with cryptocurrencies like USt. The technical analysis includes the analysis of historical price data to determine trends, models as well as potential support and resistance. Here are some basic technical analysis tools and methods with which you can develop a USDT trade strategy:
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- These are the basic price levels with which the starting points can be determined.
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- RSI (relative strength index) : RSI is an impulse indicator that measures the strength of the security price over time.
USDT -Trading Strategy Development
After understanding the technical analysis and its importance for the development of a trade strategy, let us create the main -usdt trade strategy. Here are a few steps to follow:
- Select a trading platform
: Select a reliable online trading platform such as Binance, Coinbase or Etoro.
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3.
- Specify time : For example, choose your transaction time 1 hour or 1 day.
- Create a trade strategy template : Create a basic trade strategy template with the following components:
* Diagram model analysis
* Identification of support and resistance level
* Analysis of the trend line
* Risk management (e.g. Stopless orders)
6.
Example of the same trady strategy
Here is a trade strategy that uses a technical analysis to determine the purchase and sales signals:
- Diagram model analysis: Set a 1 -hour -hour -Diagram model such as head and shoulder formation.
- Identification of the support level and resistance: Place the level of support of USD 1.00 (lowest price) and the level of resistance $ 2.50 (highest price).
- Trendlina analysis: Use a number of trends to set potential purchase or sales signals.
