I am 35 years old this year, started trading cryptocurrencies at 22, and by 2023-2024, my funds reached eight figures.
Now, when I go out, I must stay in high-end hotels that cost 2000 per night, living a much more comfortable life than those 80s who honestly run factories or engage in e-commerce!
As an old trader who has been in the crypto market for 10 years, having experienced countless ups and downs, the key to surviving in the crypto space lies in these 5 iron rules! They are all lessons learned from blood and tears! After reading, make adjustments accordingly, and you will definitely avoid detours!
When the price rises slowly and retraces quickly, it means accumulation is happening.
When the price rises sharply and falls slowly, it indicates that large funds are secretly accumulating, preparing for the next wave of increase.
When the price falls sharply and rebounds weakly, it means distribution is taking place.
When the price is smashed down hard and cannot bounce back, it shows that the market makers are secretly dumping their chips, and the market is about to turn bearish.
When heavy volume appears at a high position, don't rush to sell; if there is no volume at a high position, get out quickly.
When the price suddenly spikes to a new high with explosive volume, there may still be new highs; if the volume cannot keep up, clear your position and run.
When there is a sudden increase in volume at a low position, don't rush to catch the bottom; wait for continuous high volume before taking action.
A sudden increase in volume at the bottom may be a bait, so keep a close watch; if the volume continues to increase, it means real money is coming in.
Trading cryptocurrencies is a psychological battle; market consensus is reflected in trading volume.
Retail investor sentiment determines price fluctuations, and trading volume is the thermometer of market consensus!
Changing habits is not cool at all; it’s all about the pain of breaking through.
Every change feels like being hit; old habits need to be torn apart to grow new skills. Breaking old patterns is necessary to learn new things. The constant torment of hitting daily limits and then dropping limits is unbearable for ordinary people. What's worse is that some people don’t even have the chance to make mistakes.
Be sure to respect the market, learn new things every day, and continuously improve your trading system. Don’t think you’re stable; the market can change at any time! Only by being prepared to deal with sudden situations can you survive until the end!
Get in quickly; the market never misses opportunities. The question is whether you can seize them. Follow experienced and right people, and we can earn more!
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