I am 30 years old this year, and from 2021 to 2025 my capital will reach 8 figures. I have hardly experienced any business disputes and have few worries. I have the patience to summarize my insights; the most important thing in trading cryptocurrencies is having a good mindset, while technical skills are secondary.
1. In most cases, $BTC is the leader of price fluctuations in the cryptocurrency market. Strong quality coins like Ethereum may sometimes move independently of Bitcoin, but altcoins generally cannot escape its influence.
2. If there is a significant drop during the day in China, it is essential to buy the dip, as foreign traders will likely pump the market around 22:30. If there is a significant increase during the day, avoid chasing the price, as it will likely drop back at night. The key signal for buying and selling is the spike; the deeper the spike, the stronger the buy and sell signals.
3. Between 0:00 and 1:00, spikes are likely to occur, so domestic traders can place buy orders for their desired coins at a low price and sell orders at a high price before going to bed, as they might just get filled while they sleep.
4. The time between 6:00 and 8:00 in the morning is an opportunity to decide whether to buy or sell and also to assess the day’s price movements. If the price has been dropping from 0:00 to 6:00 and continues to drop during this time, it is a good time to buy or add to your position, as the price will likely rise that day. Conversely, if the price has been rising during this time, it is a selling opportunity, and the price will likely drop that day.
5. 17:00 is an important time to watch; due to time zone differences, American traders are waking up and starting their activities, which may cause price fluctuations. Significant price movements have indeed occurred at this time, so pay special attention.
6. There is a saying in the cryptocurrency community about "Black Friday," where there have been instances of significant drops coincidentally occurring on Fridays, but there have also been cases of significant increases or sideways movements. It’s not particularly reliable, so just pay attention to the news.
7. If a coin with a certain trading volume drops, don't worry; be patient and hold, and you will recover your investment. In the short term, it may take 3 to 4 days, and in the long term, around a month. If you have extra USDT, you can buy in batches to lower the average price, which will help you recover your investment faster. If you don't have extra money, just wait; it won’t let you down—unless you really bought an I coin.
8. Holding the same coin for the long term with less frequent trading can yield greater returns than frequent trading, depending on whether you have the patience to hold.
I bought Dogecoin at 0.1 and have held it until now, which has multiplied over 20 times💡 The future wealth code is often hidden in the gap of understanding—trends come first, and layouts come later!
