Tin tức Phân tích Top 3 Crypto Picks for May

Top 3 Crypto Picks for May

May 2, 2024 Phân tích
BITmarkets | Top 3 Crypto Picks for May

The cryptocurrency market is undergoing a dip as we step into May, and market participants are – as always – looking for the cryptocurrencies that are packed with the highest profit potential.

When deciding which cryptocurrency to include in a portfolio, traders and investors can use various technical analysis tools, such as trend lines or classic support/resistance zones.

However, these methods often do not yield consistent results. In this analysis, we present a quick and efficient method for performing such an analysis.

Our method

The fundamental concept of our analysis method may seem overly simple at first glance. However, it's crucial to remember that this initial step helps filter out coins that have not yet completed their correction.

The first step is to analyze the market structures, specifically the Higher Low and Higher High formations. We then apply Fibonacci levels, focusing on the 0.5 level, which accurately divides the structure into Premium & Discount (P&D) zones. We do not consider a cryptocurrency as a potential buying opportunity if it has not yet reached the Discount zone.

It is essential to note that P&D zones alone do not provide sufficient information to make a final trading decision. Investors must consider additional factors that influence the price.

We recommend waiting for the selection of initial liquidity, followed by changes in structures on the lower timeframe or the appearance of an Inversion Fair Value Gap (IFVG).

Our picks for May

Based on the analysis described above, our team of analysts have identified three cryptocurrencies that meet the criteria for inclusion in a portfolio.

SOL1

SOLUSD - 1 Day Time Frame

RNDR1

RNDRUSD - 1 Day Time Frame

GALA1

GALAUSD - 1 Day Time Frame

These cryptocurrencies have been selected after a thorough examination using our method, ensuring they have reached the Discount zone and meet other essential parameters for a potential buying opportunity.

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