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How to trade Binary Options on Cryptocurrencies

Started by PocketOption, Oct 22, 2022, 12:32 pm

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PocketOption

How to trade Binary Options on Cryptocurrencies

How to trade Binary Options on Cryptocurrencies. Trading binary options for cryptocurrencies represents a high potential for traders of any skill level to earn money. The cryptocurrency market now resembles Forex at the beginning of the 2000s, when even the most primitive trading strategiesbrought tangible income. Today we will look at what opportunities binary options provide in the context of cryptocurrency trading, and how you can make money on it. Why cryptocurrencies.

The cryptocurrency market is still quite young, but trading volumes are growing exponentially. That is,  binary options strategy the market is constantly replenished with new funds from outside, which spurs rapid growth. Active interest from investors and market hype creates many attractive trading opportunities that are certainly best not to be missed. Lack of commissions; Fixed risk ; High liquidity . You can earn on the movement of the rate, but at the same time do not pay additional commissions of the exchange and  binary options broker trade simple contracts with a fixed payment.

There is no need to fiddle with exchangers and risk storing a highly volatile asset, making money solely on rate fluctuations. All this greatly simplifies the calculation of risks and the trading process itself. Bitcoin. Bitcoin is the first and largest cryptocurrency in terms of capitalization. The main advantages of Bitcoin: its prevalence, developed infrastructure and support from the community. In terms of traditional (fiat) currencies, Bitcoin can be compared to the US dollar, which also has a strong impact on the overall market trend.

The global trend of Bitcoin has not changed for many years. At the moment, its rate has already reached $ 11,000. The simplest tactic for making money is entering corrections, with the expectation of further growth. Naturally, you need to enter a trade not at the very peak of an upward movement,  binary options but after waiting for a good rollback. For this we will use Fibonacci levels . We stretch the grid relative to the last wave and wait for a rollback to 61.8%, after which we buy the Call option.

Litecoin. Litecoin is a fork (copy) of Bitcoin with faster transactions and an increased maximum of coins in circulation. Due to its early appearance, at the moment, the cryptocurrency is among the five most popular altcoins. Due to the high volatility, gaps and unstable trends, it is almost impossible to predict the movement of Litecoin in the future of several minutes / seconds. Often, peaceful consolidation is replaced by a sharp decline,  binary options strategy which is just as abruptly replaced by a sharp rise.

However, even a regular moving average (SMA) with a period of 50-100 will perform well. For trading we need intraday graph of a candlestick . The essence of the strategy is simple:  binary options strategy as soon as the candlestick closes above the moving line, open the Call option.

Source: How to trade Binary Options on Cryptocurrencies

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