Unlike the exchange market, the virtual currency market can be traded on Saturdays and Sundays, so it can be said that it is a highly recommended investment for those who are working in other professions such as office workers. But will the market move well on Saturdays and Sundays? What trends do you see?
Saturday price movement
Bitcoin tends to drop on Sunday, and tends to be volatile from Monday to Friday, making it easy for trends to emerge. And on Saturdays, it tends to settle down and become a range market. The best time to set Bitcoin is Sunday. Place the rig on Sunday and trend up or down on weekdays.
Also, as you can see from the market price below, the trend often changes between Saturdays and Sundays. In the chart below, the red line ends on Saturday and Sunday, but in the following week, it turned to the blue line, that is, the upward trend. This is just one example, but one of the characteristics of cryptocurrency price movements is that the flow changes at once on Saturdays and Sundays.
Source : BTC/USD 1day-leg 07-2023
Linked with other than Bitcoin
The movement of Bitcoin is characterized by the fact that other coins such as Ripple and Ethereum also move in a similar way. This is because Bitcoin is the key currency, so other coins move as if they were being dragged along. Therefore, it is important to watch the movement of Bitcoin when purchasing currencies other than Bitcoin. As explained above, it is often the case that weekends and weekends can change the situation, so be especially careful.
Will cryptocurrencies drop on Saturday?
As for whether the virtual currency will go down on Saturdays and Sundays, it tends to go down on Sundays. As a trading method, it tends to be easy to buy bitcoin when the price drops on Sunday and sell when the price rises on Monday, Tuesday, and Saturday. The reason why bitcoin goes down on Sunday is that investors and brokerage firms who don’t look at charts on holidays tend not to trade or sell bitcoin.
Also, other than that, on Saturdays and Sundays, there is a tendency for not much big news to come out. Therefore, there are many traders who take profits once in preparation for the beginning of the week. As a result, it is said that the virtual currency market, including Bitcoin, will be on the decline.
work on sunday evening
If you’re looking for trends, Sunday evenings are your target. On Saturdays and Sundays, although the market tends to fall, the market tends to be in a range, so it will be a period of accumulation before the next direction comes out. The standard pattern is to enter a high or low price during this period and wait for a large price movement on Monday. The virtual currency market will move greatly on weekdays.
Because of this trend, trend followers will put their entries in by Sunday and look for answers from Monday onwards. If you are aiming for a large price range, Saturdays and Sundays are the best timing to target.
Open an account
In order to actually start investing, you must first open an account. MEXC allows you to open an account for free, so you can easily open an account. The article below explains how to open an account, so please refer to it.