Can I buy bitcoin and sell next day? Even if the fundamental analysis is much less important than the technical analysis in currency trading (Forex), it has an importance of course that cannot be overlooked in support of the technical analysis in cryptocurrency trading, which gives great confidence in choosing winning deals and making profits greater.
How to profit from Bitcoin trading, cryptocurrencies are risky at times, as mentioned above, and this makes the commissions for trading rather large compared to their counterpart from the first cash currencies, the commodities for trading.
Bitcoin enjoys the lowest commission among different currencies, as Bitcoin occupies the forefront of confidence and strength among the different cryptocurrencies.
As the commission of Bitcoin is about 0.07% of the value traded, which is a very reasonable percentage, which gives Bitcoin more power to be chosen by investors due to the lack of commission paid to trade with it.
How to profit from Bitcoin trading
Technical Analysis
As a result of the reliance on cryptocurrencies in general, and Bitcoin in particular, on high and advanced technology, the work of technical analysts is more accurate and easy, as the commitment of currencies to levels of support, resistance and trends is often clear and there is no change in it, unlike monetary currencies.
The external factors affecting digital currencies are almost non-existent as a result of their decentralization, except for some obstacles that governments put in place with some new legislation.
Therefore, the work of a Bitcoin Technical Analyst is a dream for him.
Dealing in Bitcoin has a strong and clear ground. If you adhere to the aforementioned strategies, then your profitability from Bitcoin is guaranteed, for it is a currency that over time gains recognition by governments and banks.
It combines two opposites that make it an excellent currency, transparency to ensure that it is not used in suspicious acts, and confidentiality to ensure the anonymity of the user, which keeps you safe.
Bitcoin, of course, needs a trading plan at the beginning that helps you develop the brokerage companies that will deal with it, which must be chosen on the basis of good reputation in the market and provide customer service and technical support around the clock 7 days a week in your preferred language and patience.
