Man there is no way to operate in a market without a bit of loss.
The main thing is having a loss with spoon and win with a bowl. Must say it is obvious and the point is how to have insights to decide the better point to go short or long in the operations.
Well, considering the Dow theories, which says that all information - past, current and even future - is discounted into the markets and reflected in the prices of stocks and indexes, may I include cryptocurrency here? For sure!
I mean, depending on your goals, if it is day-trade, swing-trade or HODL, you have to first manage your portfolio risk. In order to do that, tools might be used. If you want HODL an asset for long, so keep on track on the news about the current project (the coin/token which you are investing) are realy worthful, however, if your goal is to maximize part of your portfolio through high risk investments, the News on track could be not necessary, in this case the best tool for sure is the Technical Analysis, specific one line called Price Action.
Just to share an example see the figure I attached.
https://www.tradingview.com/x/it1IyHrF/It is showing a Fibo Retracement traced from the high peak to the deepest bottom. Now, (01/19/2018 5:30pm) we are seeing that the BTC price is into a high channel, it has been in to the support and the resistant line for while, testing the Fibo 0,38% level. We also have a Elliot impulse wave presenting the cycle the price is repeating. If the prices presents any clue of passing the Fibo 0,38% level, we can expect to achieve the $13K line, otherwise set your stop in the entry point. That´s it.
Look, I dont want to give any financial advise ok? That is only the way I analyze the market trying to make a trade without losing (so much).
Cheers!