Take a look, it's 5 min Ethereum chart. This happened 5 mins ago. It's called a "relief", when you go too fast, the gap between 200 EMA and 50 EMA becomes too large and scalpers quickly fill the gap. What they do is buy on 50 EMA with a goal at 200 EMA.
As you can see people are making tons of the profit even on the crash. It's all about how you see it. If 200 EMA in above example was not broken, the scalpers quickly sell off, and the down trend resumes. (The relief is over).
You can do it too if you are monitoring the markets for such quick bounces.
i am new to this but can you set puts and sells like in the regular market where after you buy it you put an earmark where it auto sells at a preset amount $$$
No it doesn't work like the regular market. This type of strategy are only for the pro traders cos you have to be a bit faster when buying and selling at the same time.