A Crypto trader is a person who trades cryptocurrencies, altcoins, and value tokens in order to profit from short-term changes in the market price of these assets. The primary goal of a crypto trader is to maximize profits from short-term price fluctuations on crypto exchanges.
A crypto trader’s duty is to research and study the market, including what pairings and coins there are, their movements, and price patterns, before placing orders. They look at how these coins are moving over time – if they are rising or falling in value, the volatility of those values, and how long these changes take to occur. All this information helps determine where a trader should place his trade in order to maximize returns or minimize losses.
Cryptocurrency trading refers to the process of speculating on price movements of cryptocurrencies via a CFD trading account. Buying and selling the underlying coins is also possible via an exchange.
It’s no secret that all of us want to find new crypto projects that post incredible gains – but where do you find them? The purpose of this article is to explain how to search for a specific price movement after listing a newly listed coin based on its token metrics.
There has been a trending thread on Twitter by well-known trader @MacnBTC. In his thread, he explains in detail his strategy for discovering lesser-known coins and increasing their value by at least 100x before they begin their bullish cycles.
How does a Crypto Trader find coins that have been listed recently
A good place to start is to look at newly listed cryptos on Binance for coins that give such massive gains. In general, there are three reasons for this:
- A coin that has just been listed as fresh charts. In other words, once they break out above a company’s original listing price, there is no overhead resistance.
- A vested unlock schedule is often associated with newly listed coins. As a result, early investors still have their tokens locked for the first few months of trading, thereby significantly reducing the circulating supply.
- With newly listed coins, new narratives can easily be created, which greatly contributes to the price increase.
It is, therefore, necessary to look for newly listed coins in order to select a crypto project that will increase a hundredfold.
Crypto token metrics
To find such winners, the second step is to analyze token metrics, which in these cases are:
Schedule for unlocking seed/private rounds
The lack of selling pressure usually results in significant increases for coins with locked vesting schedules, as discussed in the first section. Since all the seeds/private rounds, advisors, and teams had been locked for nearly a year, this was especially evident in GMT.
Private/seed round token price
In the case of unlocked supply, a large gap between the seeding and listing prices is considered negative. Because investors will realize their gains if the listing price is several times higher than the early seed round price and their tokens are unlocked, resulting in sell pressure.
An investor’s/advisor’s/team’s perspective
Last but not least, the team behind the project as well as investors also play an important role in determining future price movements. A project that has investors who are known to be long-term investors is always a good choice for investment.
Crypto Trader & Chart readings
Lastly, it is extremely important to watch the price movement after the listing. In an ideal chart, there should be:
- Following the listing, the price declines in a gradual choppy manner
- Soon after, short-term moving averages (MAs) crossed in a bullish direction
It was possible to see both of these in MATIC. The share price of MATIC fell for roughly 20 hours following its listing. A bullish cross (green icon) was then formed by the short- (red) and long-term (black) MAs.
Since Fibonacci levels cannot be determined after the listing price is clear, future resistance levels are determined using Fibonacci levels.
It was virtually perfect to predict the ensuing top of MATIC based on the 4.61 Fib extension of the original upward movement. For the first portion of the upward movement, it could have been the perfect take-profit target.
MATIC/USDT Chart By TradingView
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