Welcome to Crypto Base Scanner! You are now on your way to an easier and more profitable trading.
Are you looking to double, triple, or quadruple your cryptocurrency investments? Surely, you could do that with the right knowledge, informed decision-making, and responsible investment.
By using Crypto Base Scanner as one of your trading tools, you can generate an easier understanding of coin price fluctuations.
But before anything else, we want to share with you a highly effective approach to trading – the QFL Strategy.
The Quickfinger Luc (QFL) Strategy can potentially lead to outstanding trading results even when the market seems to be crazily out of hand. It helps you make sense of the red and green lines that you see on the candlestick graphs. It even points to you the perfect time for buying or selling your coin according to your preferred risk and return levels.
Let us share with you some important terms in QFL Strategy:
BASE OR SUPPORT LEVEL – This is the price level at which buyers make a strong reaction. It is the lowest level reached before the price starts turning and increasing.
REBOUND LEVEL – This is when the price sharply moves upward right after touching the base level.
RESISTANCE LEVEL – This is the highest level before the increase stops and the price goes down again.
CRACK – It occurs when there is a strong pulse movement of the ticker at a distance from the base level down to the formation of the next rebound.
So what about these terms? What do you do with levels and occurrences?
Apparently, the QFL Strategy can also be called as THE BASE STRATEGY. It works by identifying trading bases and determining your buying or selling action depending on the support and resistance levels. Therefore, it is necessary to get a complete understanding of these levels and terms for better trading decisions.
Look at this scenario:
When a digital coin’s price reaches the resistance level or the highest price, traders will start selling their coins. This panic selling drags the price down.
As prices go down to the bottom or the support level, buyers rush in which then allows the coin to bounce back.
A lot of traders understand the dynamics of cryptocurrency exchange. Without the right knowledge, you will remain guessing. Why depend on luck when you can wisely manage your cryptocurrency assets?
There are FIVE KEY STEPS when following the QFL Strategy or Base Strategy:
- Find the base level and determine if it is strong enough. An intense reaction from buyers would be a good signal.
- Analyze the coin’s price history on the chart. Determine the number of panic sales that transpired in order to help you calculate the possible occurrence of future cracks.
- Determine your preferred base level for entry. Also, calculate the risks and know the success rates associated with it. Set your alerts according to your desired base level so that you can be notified every time that strong bases happen.
- Analyze price histories on longer timeframes to help you make better decisions.
- Be patient in waiting for the next panic sale to enter the coin’s market. Always consider your risk tolerance for every trading decision.
Crypto Base Scanner makes trading a lot easier. Instead of manually tracking charts and determining base levels, the CBS application automatically does it for you. We will dig deeper into the specific uses and functions of Crypto Base Scanner as we get along.
In the meantime, take a look at these videos to help with your crypto trading journey.
Video 1: Introduction to Trading – Learn How to Trade Cryptocurrencies
Video 2: Trading Strategy – Learn How to Trade Using Support Levels or Bases
Video 3: Base Scanner App – Know How Crypto Base Scanner Helps with Trading
Video 4: Advanced Base Scanner – Learn the Advanced Features of CBS
Disclaimer: This article describes how we use the Crypto Base Scanner. This may not be considered trading advice.