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The Best Bitcoin Strategy 2023

The Best Bitcoin Strategy: A Simple 5 Step Crypto Trading Plan 2023 latest update:

The Best Bitcoin Strategy:

The Best Bitcoin Strategy

The Best Bitcoin Strategy

The Best Bitcoin Strategy Due to the recent volatility in the cryptocurrency market, we decided to update this article so that you could benefit from the best Bitcoin trading approach.

The focus of today’s article is day trading Bitcoin and a trading strategy for it. Most likely, you’ve heard a lot about it. There are numerous Bitcoin trading methods that claim to make you wealthy. But the real question is: Can they?

At Trading Strategy Guides, we are aware that everybody now wants a piece of the action. We have assembled the best Bitcoin trading strategy PDF for you to download for this reason.

Along with a list of all the top trading strategies we have developed, we also have a comprehensive strategy article.

So first:

So first, please give us a moment to express our gratitude. You, indeed! We’re happy you’re here and sincerely hope you find everything you need. Feel free to visit our TSG Blog Archive whenever it’s convenient if you’re new to Trading Strategy Guides (TSG). You can check out a ton of awesome content.

If you’re completely new to trading, you might want to take a step back and learn some of the fundamentals. The most thorough Guide for Novices New to Trading and Financial Markets has likely been written by us. We’d love for you to look it over and get acquainted with trading.

Let’s start learning about the best Bitcoin Trading Strategy right away.

The Best Bitcoin Strategy:

The truth is that Bitcoin is currently the most popular trading item. At this point, it is hotter than the stock market, the oil market, the gold market, and any other market. Blockchain technology is the reason why many people think this market will remain hot. This enables transactions to take place without the need for a central exchange.

It is actually a common cryptocurrency trading strategy to trade Bitcoin for profit. Any of the 22,000 cryptocurrencies— and counting—that are currently exchangeable can be traded using it. It is best to begin with a brief introduction if you are unfamiliar with cryptocurrencies.

How to Start Investing in Bitcoin:

Open a Bitcoin wallet first in order to start trading with our recommended Bitcoin strategy. If you don’t already have one, you can create one at Coin base, the largest wallet. For anyone looking to start using Bitcoin, we have arranged a special deal that will give them $10 free at Coin base. Create your Coin base account here to receive $10 for free.

In order to trade and invest in bitcoin, traders are actively looking for the best solutions. Here in this article, we have explanations of some of the best techniques. We have gained this Bitcoin knowledge through trial and error, and we’ll show you what is currently effective. The techniques we share are independent of Bitcoin market value. They can be used whether the price of Bitcoin is rising or falling.

Remember that losing money is a possibility. Because cryptocurrency is still trading at the end of the day, your capital is at risk when you trade it. We always advise demo trading before putting any real money at risk. Read the trading volume guide as well.

These bitcoin trading methods can also be applied to other cryptocurrencies, such as bitcoin cash. You can actually use this as a trading manual for any kind of trading instrument. The ability to access information has greatly improved thanks to blockchain technology. Many businesses are beginning to create applications that take advantage of blockchain technology.

When trading digital currency, keep in mind that it might appear that you aren’t using real money. But it really does exist. There is no Ponzi scheme here. Have a strategy in place before purchasing bitcoins, and don’t undervalue the potential of the cryptocurrency markets. Just as you would if you were planning to day trade any other instruments, you must conduct technical analysis and keep an eye on your Bitcoin trading account. You can read more about our top Gann Fan trading method here.

Setting realistic goals, doing research and staying current on market news, controlling risk by using stop-loss orders, and not letting emotions control your trades are some advice for successful Bitcoin trading. Examining services that offer high-quality education is a great way to conduct relevant research.

Best BTC and Cryptocurrency For Trading Exchanges:

There are many different Bitcoin exchanges available, which is one of the reasons why day traders enjoy trading Bitcoin for profit so much. Numerous different factors will determine the best Bitcoin exchange. These comprise your country of origin, your preferred method of payment, charges, restrictions, your need for liquidity, and other elements.

Some of the most popular cryptocurrency exchanges available are listed below:

  • The biggest cryptocurrency exchange in the world is Coinbase. accessible in the majority of European nations, the United States, and Canada. provides a number of payment options.
  • The second-largest exchange with more than 130 different currencies is Binance. has negligible (0.1%) transaction fees.
  • The third-largest exchange, Bitmex, only deals in BTC. Excellent for margin trading and short selling.
  • Ex-Microsoft security experts founded the US-based exchange Bittrex.
  • Six million people use the brand-new exchange Robinhood, which charges no trading commissions.
  • A Hong Kong-based exchange is OKEx. over 145 different cryptocurrencies are traded.
  • Users can trade Bitcoin, Ether, Litecoin, and other cryptocurrencies on the US-based exchange GDAX.
  • ItBit functions as a global over-the-counter (OTC) trading desk as well as a global platform for Bitcoin exchange.
  • You can easily buy and sell using Coinmama. a vast global reach and accepts credit cards.

Three Beginner Crypto Trading Techniques to Consider:

Are you new to cryptocurrency trading but unsure of where to begin? Here are 3 straightforward long-term tactics you should think about.

Due to the high level of risk involved, trading cryptocurrencies without a strategy in place can frequently result in the loss of invested money. There are three well-known strategies that are ideal for beginning traders, even though most analysts would concur there is no “perfect” trading strategy.

You will require the following for this explanation:

  • A free online charting tool account is available from some of the most well-known companies, including TradingView, StockCharts, and Yahoo Finance.
  • A fundamental knowledge of candlestick charts: Our comprehensive explanation of this is available here.

#1.Average cost  dollar (ACD):

Popular and tried-and-true trading strategy dollar cost averaging performs best when used over extended time frames. The idea is basic. Divide your money up into smaller amounts and only invest at specific times of the day and week rather than investing all of your money in one cryptocurrency at once.

Example: Bob wants to buy bitcoin with $10,000. He chooses to apply the DCA strategy and divide his $10,000 budget into 20 lots of $500 rather than using it all at once. He then decides to purchase bitcoin on a specific day and time, say Monday at 12:00 local time. Every Monday at noon for the following 20 weeks, Bob systematically purchases $500 worth of bitcoin, continuing until he has invested the full $10,000.

In general, Bob will likely get more bitcoin for his money if he purchases in this manner at regular intervals over a long period of time. This helps to lessen the effects of market volatility, which occurs when prices sharply rise and fall.
More information on this is provided by the DCA calculator DCABTC, which focuses on bitcoin.
Every Monday starting on January 1, 2018, if you had purchased $150 worth of bitcoin, you would have spent a total of $23,550 and accumulated 3.04 bitcoin ($147,307 at press time). On the other hand, if you had spent $23,550 on bitcoin on January 1, 2018, you would have received 1.69 bitcoin ($81,779 at the time of publication).

Dollar cost averaging is a great way for newcomers to trade cryptocurrencies because it can be completely automated using a variety of trading bot services like CryptoHopper, Coinrule, or 3Commas. This means that all you have to do is deposit money, tell the trading bot what and when you want to trade, and then let it handle the rest.

If you choose to manually implement the DCA strategy by purchasing the cryptocurrency on an exchange at predetermined intervals, you can enhance your overall performance by adding one straightforward rule: only purchase the specific cryptocurrency asset at the predetermined intervals when prices are negative. This refers to situations where an asset’s price is lower than it was 24 hours prior. On CoinDesk’s website, you can find real-time price information for the top 20 crypto assets.

#2.Death cross/golden cross:

A trading strategy for cryptocurrencies known as the “golden cross/death cross” employs two moving averages (MAs), which are lines on charts that display the mean average price of an asset over a specified amount of time. For this strategy, you are looking for crossovers between the 200 MA and the 50 MA over lengthy chart time frames, such as the daily and weekly charts. The 50 MA is the average of the previous 50 days. This is another long-term trading strategy that performs best over a period of 18 months and beyond because it deals with observing price activity over broad time periods.

You are looking for two different types of crossovers:
  • When the 50 MA crosses the 200 MA, this is known as a convergence (golden cross).
  • When the 50 MA descends below the 200 MA, there is a divergence (death cross).

Convergence is a buy signal because it indicates that short-term momentum is outpacing long-term momentum. When buyers hit the market again, prices rise as a result. Divergences are a sign of the inverse, that is, a decline in the short-term momentum relative to the long-term momentum. The signal is to sell. Divergences occur when a lot of traders decide to sell their assets and leave the market.
You must first log into your account with your online charting tool—TradingView is shown in the image below—change the time frame to either daily or weekly, click on the indicators button, and then type in “moving averages” to set this up. To combine two moving averages, click twice.

#3.crypto trading strategy based on RSI divergence:

Although it is a more technical strategy, the RSI divergence approach can be very effective for predicting trend reversals before they occur. When the price begins to move in the opposite direction—from a downtrend to an uptrend or vice versa—it is said to be in a reversal.

Relative Strength Index, or RSI for short, is a chart indicator that determines the typical number of gains and losses over a 14-day period to determine momentum. When an asset is “overbought” or “oversold,” the indicator line, which oscillates between 0 and 100, can be used to highlight the situation. The channel most frequently used to display this is one between 30 and 70. The asset is deemed “overbought” and the price is likely to drop again when the indicator line exits the channel above 70. In contrast, the asset is deemed “oversold” and the price is likely to increase when it crosses through the channel’s bottom below 30.

While this system by itself can be used as a straightforward crypto trading strategy, it occasionally produces inaccurate results. When the RSI indicates an asset is overbought, which is typically a buy signal, for instance, the price may then continue to decline.

This is less sophisticated than the RSI divergence strategy, which can be used to predict when the price trend will reverse itself. In order to function, it searches for differences between the price and the RSI indicator. The price and RSI typically move in the same general direction. But occasionally the price will drop while the RSI will rise, and vice versa. This only occurs when there is a slight change in buying or selling volume, and it is a clear indication that momentum is beginning to reverse.

Generally speaking, a four-hour or daily window is the best time frame for searching for divergences. The mid-to-long-term trend typically exhibits stronger changes during these time periods. On the recent bitcoin/U.S. dollar chart (BTC/USD), which is shown in the chart below, there were three significant RSI divergences that signaled changes in the general trend. The price and RSI indicator differences are displayed by the yellow lines. When the price is in an oversold or overbought region, it is best to look for divergences.

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