1. Pre-Launch Preparation
• Research the Project: Understand what BIO Protocol is about. Check the whitepaper, team, use cases, and partnerships.
• Monitor Market Sentiment: Check social media, Telegram, Reddit, or other communities to gauge hype or skepticism.
• Set a Budget: Decide how much you’re willing to invest and never exceed it, especially with volatile tokens.
2. Launch Day Strategies
• Avoid Initial Volatility:
• Many tokens experience sharp price spikes and drops right after launch. Consider waiting 15–30 minutes for the price to stabilize.
• Scalp Trading:
• If you’re experienced, take advantage of quick price swings by buying low and selling high within minutes. This requires focus and a fast response time.
• Buy the Dip:
• After an initial surge, the price often drops. Look for opportunities to buy when it settles lower.
3. Short-Term Trading
• Set Stop-Loss Orders: Protect your funds by setting stop-loss limits. For example, set it 5–10% below your purchase price to minimize losses.
• Take-Profit Levels: Set realistic price targets to lock in profits (e.g., 20%, 50%, or 100% gains).
• Use Technical Analysis:
• Monitor support and resistance levels, volume trends, and candlestick patterns for clues on entry and exit points.
4. Long-Term Holding
• If BIO Protocol has strong fundamentals and real-world use cases, consider holding the token for months or years to benefit from its growth.
• Diversify your portfolio to minimize risk in case the project doesn’t perform as expected.
5. Risk Management
• Start Small: Allocate only a small percentage of your portfolio to BIO initially.
• Beware of FOMO: Don’t rush in just because of hype—wait for reasonable entry points.
• Stay Updated: Follow Binance updates, project news, and social media channels.
6. Tools and Alerts
• Use Binance’s alert system to get notifications about price changes.
• Track trading volume