Once a trend is spotted, the strategy is to follow it – buying in an uptrend and selling or shorting in a downtrend.
The key tool for Trend Followers is technical analysis. This involves analysing past market data and price movements to predict future trends. By using various technical indicators and chart patterns, traders can identify potential upward or downward trends in the crypto market. Once a trend is spotted, the strategy is to follow it – buying in an uptrend and selling or shorting in a downtrend.