If you’re looking for how to make money with Bitcoin, the video below will show you how. We’ll teach you, but it might not be in the ways that you think. We aren’t bitcoin “pumpers” and aren’t going to tell you what will happen with crypto long-term because we don’t know what will happen. No one does.
Introduction on How to Make Money With Bitcoin
We are not Bitcoin haters. We are traders who teach technical analysis and safe ways to make money with Bitcoin. Every stock in the world obeys the laws of support and resistance. What goes up will eventually come back down. Stocks don’t go up forever, and the same goes for bitcoin.
It’s no different. Anyone who tells you that the charts don’t matter with Bitcoin is lying, doesn’t know what they’re talking about, or is pumping. Stock pumpers are a dime a dozen in the stock market industry. You’ll especially find many of them in the crypto and pot stock industry. Again, we aren’t hating on either sector long-term, but the charts don’t lie. Look at the charts on most small-cap stocks in these sectors and see that they are notorious for pumping and dumping.
There’s a lot of money to be made trading in these sectors, but you need to get very good entries if you want to hold stocks in these sectors long-term. If you get a bad entry, you can blow up your brokerage account.
Support Levels
Buy low and sell high is the age-old stock market adage. We are buying low, which means buying at support levels. In our video on how to make money with Bitcoin, we show you how to buy at support levels and where to look to take profits at resistance levels.
Support levels are small candlesticks held around moving average lines. Patterns matter, too, though. Don’t just buy a hammer or doji off moving average lines unless the pattern overall looks good. Candlesticks form important patterns; often, there are very important patterns within the overall big pattern. Finding reversals helps in getting good entries.
If you unthinkingly buy bitcoin based on hype and don’t get a good entry, then the volatility in your brokerage account will make your stomach turn. The emotions of trading are real, and the panic is extra strong when trading volatile sectors like bitcoin.
Technical Analysis
Candlestick patterns culminate in the battle of the bulls and the bears. These patterns form important support and resistance levels. The phrase buy low, sell high comes from this battle and the clues that candlestick patterns leave.
Candlesticks aren’t foolproof, but they provide the best clues on when to enter and exit a trade, potentially. Why is this important?!
To make money with Bitcoin, you must know how to buy low and sell high, just like when trading any other stock. Again, bitcoin might go up; however, at some point, it might pull back or crash hard if it’s overextended on the charts.
Buy the Rumor Sell the News
There’s a saying that says buy the rumor and sell the news. The rumor could also be considered the hype or the speculation that comes with Bitcoin or any sector. So, the hype takes place, crypto rises, then what?!
Will Bitcoin continue to go up forever? Who knows?! Again, this isn’t about what we “think” crypto is going to do long term. We are trying to help determine when you would potentially buy it and when you would potentially look to sell.
Trading Community
In our trading community, we teach how to make money with Bitcoin and trade in any sector. Again, it’s all the same. Stocks all have candlestick patterns and go up and down based on the trading decisions of other traders.
Bitcoin is more volatile than your typical stocks, but the trading laws remain unchanged. Traders buy and sell, and patterns form. The more this takes place, and the more volume flows through the process, the bigger the candlesticks.
Large candlesticks present a larger risk. Ideally, you want to buy smaller candlesticks near support levels, not large ones. Can you make money buying large candles? YES! However, this carries more risk. The choice is up to you, but please keep in mind the risks of buying large candlesticks at overextended levels.
If the bitcoin sector is running, we will discuss it and trade it as a community. We will be looking to trade it for momentum breakouts, not long-term ones.
We are all about helping our community members, and we teach our members the skills necessary to become safe and profitable traders. It’s ultimately up to you, though, when taking a trade. You decide when you’re going to enter and exit a trade. We will help you along the way, but we can’t pull the trigger on a trading decision for you.
Lists
We also have a Bitcoin stocks list under our “lists” section above if you’re looking for a list of crypto stocks to trade. They are a mix of small-cap and large-cap stocks, although the large-cap stocks are limited due to the lack of history in this sector. Please chart any stock before you buy it because support and resistance levels matter. We do not endorse any stocks on our lists. They are meant to be a guide, so do your due diligence and research company fundamentals.
Final Thoughts on How to Make Money with Bitcoin
We highly suggest paper trading first before buying any stock. It’s important to know how to buy and sell stocks in a paper trading account before trading with real money.
The emotions associated with trading real money can be brutal, and there’s a good chance you’ll lose money, especially if you don’t know how to buy at support and sell at resistance.
We can’t stress enough the importance of not following hype when buying any stock sector, bitcoin especially included. Learn the charts to learn how to make money with Bitcoin. Learn support and resistance. Don’t fall into FOMO! If you miss the Bitcoin wave, then you miss it. The stock market isn’t going anywhere.
