KuCoin is one of the cryptocurrency exchanges that, according to Forbes Advisor, is considered one of the best exchanges. Kucoin’s customer services, passionately working towards the goal of a day when everyone will be involved with crypto, a vast range of coins all contribute towards KuCoin being the most significant cryptocurrency exchange. But one question that might arise in the users’ minds is the time frame in which they can trade and earn more profit. So let’s talk about it.
What Time Frame Is Suitable For Crypto Trading
Unlike business assets and materials, the cryptocurrency market isn’t traded on a synchronised exchange. Instead, cryptocurrency markets work 24/7. Though the demand for digital currency is open nonstop, the most successful ones are those done when global market activity is high. In other words, the instability in the crypto market is at its peak, and the user should be taking advantage of every price movement.
So looking for the correct hours to conduct trades is a hassle. It is not just a hassle for the trader who buys and sells with quick delivery of assets but also for traders in decentralised finance (Defi) tokens. Let’s say the current USDT price is 235.50PKR or Luna/ USDT is $0.000097 per LUNA. If the user wants to trade, he may pay twice that amount if he plans to execute the trade at a busy time. So the time frame is essential while trading.
What Does Time Frame Refer To?
A time frame refers to the amount of time that a trend lasts in a market, which users can identify and use, lasting from minutes or hours to days or weeks, or even longer. The time frame can be distributed into three categories Long Term, Short- Term, and INTRADAY.
In the Long-term, traders will refer to daily and weekly charts. These charts will aid in establishing a longer-term perspective and assist in placing entries in the shorter term daily. The advantages of this term include the user doesn’t have to watch the market intraday. Along with this, the user gets more time to think through each trade and then decide wisely. There are large swings, usually 1 or 2 goods a year, so the user must be patient.
Short-term businesses use hourly timelines and grip business for several hours to a week. And the advantage of doing so is the user needs less reliance on one or two companies a year to make money and more opportunities for trades, but overnight risk becomes a factor.
The users use this timeline as a minute chart, such as one 1-minute or 15-minute. There are many trading opportunities, but transaction costs will be much higher as users need more spreads to pay.
Thus as mentioned above, the user can use the time frame which suits his needs and requirements properly. And the user can trade from the KuCoin exchange, one of the best exchanges.