Trading Crypto currencies From Mobile – The New Trend?
Cryptocurrency trading continues to be one of the hottest topics in 2019, considering that volatility is back on its toes and prices are moving significantly. What’s even more important for traders, who want to diversify their portfolio by trading digital assets, is that this year we have more derivative instruments and we do not have to rely solely on traditional cryptocurrency exchange platforms.
Trading crypto with forex brokers
Forex brokers had been adding cryptocurrencies to their instruments list and traders had been eager to try them, given that these companies already offer a proper infrastructure required to trade in the best possible conditions.
With regulatedbrokers like easyMarkets, cryptocurrency traders get access to cutting-edge platforms both for desktop and mobile devices, as well as a mobile-friendly website. Even though cryptocurrencies represent complex trading instruments, with these tools a trader can get involved in the market and find potential trading opportunities.
Popular cryptocurrencies and technical strategies
Since cryptocurrencies had become a tool to further diversify the instruments one trader can trade, most of the people doing that do not apply any special trading methodologies. Technical setups had proven to work with digital assets and since mobile platforms support advanced charting, opportunities can be spotted even from a phone.
Whether we talk about price indicators, oscillators, or price action setups like triangle formation, double bottoms, and double tops, all showed their effectiveness when it comes to popular tokens like Bitcoin, Ether, XRP, Litecoin, and others.
Although liquidity is thin compared to the forex market, these are the most traded cryptocurrencies on a daily basis, according to the information available on the industry website coinmarketcap.com. Retail traders and institutions are very active in these instruments and with accumulations or order flow around key market levels, that’s where impulsive moves tend to start.
Do technicals overcome fundamentals?
How many times did you see a forex indicator which was supposed to drive the market in a particular direction, only to see the market defying your judgment and continuing in the opposite direction?
Same thing happens when it comes to cryptocurrency trading. The reason is very simple. Traders get caught in their thinking and forget that their view on the market is only one out of an infinity. Using price action and technical setups allows you to understand the order flow behind what you see on the chart and understand how most of the market participants are trading a particular instrument.