RE: Crypto Academy Contest / S4W1 - Crypto Market Technical Analysis by @ellabae
The main purpose of performing technical analysis is to try to identify opportunities that can arise as the market moves to make profits or reduce risks
Good point, the outcome of every technical analysis is to identify trend and maximize profit or reduce risk by setting stop loss level.
After identifying a trend along with support and resistance levels, another important aspect is knowing where to enter and when to exit.
After your analysis you should know where to enter to make quick profit and also exit to avoid greed. Knowing where to enter and exit is very important.
My favorite technical indicator is Bollinger Bands (BB) .
Bollinger band is a volatile Indic that project in the direction of trend. It can identify support and resistance with its upper and lower bands.
Please find time to visit my post as well. Good luck!!
There is best way when it comes to taking profit because one must be acquitted of when to enter and exist the market to take profit and avoid lost.